Joe Keefe, the longtime leader of Impax North America, is stepping down from the company next January and will be replaced by the group’s head of distribution, Ed Farrington.
Keefe, who has been president of the group since Impax acquired it in 2017 and president of Pax World Management since 2005, is retiring, the firm announced this week.
U.K.-based Impax is a sustainable investing specialist with about $49.5 billion in assets under management as of the end of April. The firm’s North America group oversees the recently rebranded Pax World Funds, which are now under the Impax name. The U.S. funds included $7.6 billion as of the end of 2022, according to data from ISS.
“I am incredibly proud of what we have accomplished together and grateful for my time in this industry. As we transition to a more sustainable economy, there’s more work to do, and I know Ed Farrington is the right person to carry the business forward,” Keefe said in the firm’s announcement. “I have known and respected Ed for many years — he is an outstanding leader and I know he will guide the Impax North American business to further success.”
Prior to joining Impax in 2021, Farrington had been at Natixis since 2009, serving in various positions, including executive vice president of retirement and offshore sales for Natixis Global Asset Management.
Farrington will become a board member of the Impax Funds at the time of the change next year. He is based in Portsmouth, New Hampshire, and is on the sustainability advisory board of the University of New Hampshire.
In a post on LinkedIn, Farrington said that he was “very grateful to have many months to continue working with Joe.
“He is a leading voice in sustainable investing, is responsible for bold innovations in gender lens and climate investing and has built an incredible culture for Impax North America,” he said. “Thanks to Joe, the future for Impax and the sustainable investing space is bright.”
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