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November 24, 2011

UK CEO speaks to Financial News about social investments

Colin Grassie, CEO, Deutsche Bank UK, shared his thoughts on social finance in this week’s Financial News.

In the article, Grassie talked about the role that banks should be playing in society, and the commitments that Deutsche Bank is making in the social finance space: “Four years of financial crisis have left banks facing a challenge in explaining their role in society and social businesses struggling to make ends meet. Impact investing, the term given to funding social enterprises, may offer a solution to both issues.”

"Social investment allows banks to put their core strengths to work – financial expertise, experience in dealing with risk, and an extensive network of relationships – and it can provide a return to investors." Grassie added.

The UK CEO also spoke about the Bank’s contribution last year to the Big Issue’s pioneering Social Enterprise Investment fund. The fund recently contributed about £500,000 of a £5m financing round to HCT Group and is targeting an ambitious performance-related return.

HCT, which employs long-term jobseekers as bus drivers in Hackney and beyond, expects to generate revenues of £28m this year.

Grassie also spoke about the Bank’s new Impact Investment Fund I: "Deutsche Bank stepped up its commitment this month, launching an inaugural impact investment fund with £10m of its own money. In doing so, it became the first investment bank to create a discrete ring-fenced fund that will bring the discipline of private equity managers to social impact investing."

"The Bank’s goal is to create a track record that will enable it to launch new funds, attract a wide range of external investors and profitably deliver a significant amount of money to social enterprises." Grassie added.

The full article can be read on the Financial News website.



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Last Update: November 24, 2011
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