Meghan Markle and Prince Harry announce move into ethical banking as couple grow portfolios

Harry and Meghan have been appointed "impact partners" at Ethic, a New York-based asset management firm which invests in companies which are deemed to ethical.
Harry and Meghan have been appointed "impact partners" at Ethic, a New York-based asset management firm which invests in companies which are deemed to ethical.
Yui Mok
Charlie Bayliss

By Charlie Bayliss


Published: 12/10/2021

- 16:57

Updated: 12/10/2021

- 17:02

Harry and Meghan have been appointed 'impact partners' at Ethic, an asset management firm which invests in firms which meet its 'social responsibility criteria'

The Duke and Duchess of Sussex have announced a move into banking, as the couple continue to grow their brand since leaving the royal family.

Harry and Meghan have been appointed "impact partners" at Ethic, a New York-based asset management firm which invests in companies which are deemed to meet the firms "social responsibility criteria".


The latest announcement comes after huge deals with Netflix and Spotify worth £100m.

In a statement, Harry and Meghan said: "When we invest in each other we change the world."

In a joint interview, Meghan told the New York Times: "From the world I come from, you don't talk about investing, right? You don't have the luxury to invest. That sounds so fancy."

Banking firm Ethic was set up by Briton Jay Lipman, who previously worked for Deutsche Bank, and claims to invest in businesses which meet its "social responsibility criteria", including on racial justice, climate change and workplace standards such as gender equality and fair pay.

His co-founders are Australians Doug Scott and Johny Mair, who worked for banks investing in gas and oil before they formed Ethic in 2015.

Mr Lipman, a University of Edinburgh graduate, has said previously that Ethic 'loves hippies' to invest with Ethic, because he and his team consider themselves hippies too.

The pair were introduced to tech-driven asset manager Ethic by friends, with the duchess saying Harry had been saying for years about how he wanted to invest sustainably.

Meghan said: “From the world I come from, you don’t talk about investing, right? “You don’t have the luxury to invest.

The pair were introduced to tech-driven asset manager Ethic by friends, with the duchess saying Harry had been saying for years about how he wanted to invest sustainably.
The pair were introduced to tech-driven asset manager Ethic by friends, with the duchess saying Harry had been saying for years about how he wanted to invest sustainably.
John Stillwell

“That sounds so fancy.”

She added: “My husband has been saying for years, ‘Gosh, don’t you wish there was a place where if your values were aligned like this, you could put your money to that same sort of thing?'”

The Sussexes hope their involvement will encourage young people to be conscious of the sustainability of their own investments.

Harry told the New York Times: “You already have the younger generation voting with their dollars and their pounds, you know, all over the world when it comes to brands they select and choose from.”

The couple’s Archewell website highlighted their latest business venture, linking to the New York Times’ story which featured the headline “Harry and Meghan Get into Finance” The Queen’s grandson Harry and former Suits star Meghan acknowledged that not everyone could afford to invest money.

“When we invest in each other we change the world…” the Archewell site said. “Be it through the investment of time (as with mentoring), investment in community (as with volunteering), or the investment of funds (for those who have the means to), our choices—of how and where we put our energy—define us as a global community.”

Ethic said it was thrilled to be welcoming the couple. Harry and Meghan “share a lot of values with us, and we suspect, with many of you as well.

“That’s why we’re so excited that they’re joining us as impact partners,” a statement on its website said.

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