Erika Karp of UBS in the Spotlight / Farewells

The June 6, 2013 UBS Message:
Tonight marks the last edition of the UBS Global Portfolio Manager’s Spotlight…

Farewell to UBS’ Spotlight — Erika Karp in the Sustainability Spotlight

One of the driving forces in gaining greater recognition for and appreciation of sustainable investing is Erika Karp, Head of Global Sector Research – UBS Investment Bank. Her weekly newsletter “spotlighted” capital market trends and always included value-added information about ESG considerations and focus on sustainable investing – the term that Erika has championed in public discussions.

As the Spotlight publication ended, and Erika announced that she was leaving the firm, the management of UBS had this to say about Erika:

“With almost 14 years of Erika Karp’s leadership in UBS Global Research, we have made great strides in bringing together a team of Global Sector Strategists and building a culture of collaboration within the Research Department that has been recognized around the world.

“The products and processes that Erika created and managed during her tenure as the Global Head  of Research Product Management and then as Head of Global Sector Research, include the Q- Series®, the Global I/O®, the Global Portfolio Manager’s Spotlight, and our Global Investment Review Committee will continue to support our leading global research offering.

“It is with regret that we announce Erika’s decision to leave UBS to pursue opportunities outside the firm. At the same time, we are pleased that efforts to elevate the recognition of Global Research, as pivotal to our advisory  proposition, have allowed us to integrate the function into our existing regional Research and Product Management teams. Erika has agreed to remain with UBS in her current position until August 1st.

“In recent years, Erika’s work in Sustainable Investing/ ESG Analysis has led to more concentrated efforts in academia, in the public sector, and with NGO’s including the Sustainability Accounting Standards Board (SASB) where she is a founding Board Member.

“We wish Erika success in her future endeavors and we thank her for her work at UBS over many years at the firm.” (from) Nick Pink, Global Director of Research and Mike Stewart, Global Head of Equities

As Erika noted in her final issue:

“In creating this product over ten years ago, we aimed to take a lesson from ‘The Art of War’ in which Sun Tzu said that ‘Strategy without tactics is the slowest path to victory; tactics without strategy is the noise before defeat.’

“In Global Sector Research aside from our strategy of providing the best possible predictive insight we could, a tactic with this product was to offer a more systematic integration of both a Global perspective, and one of more rigorous analysis of Governance, Social and Environmental (ESG) considerations to evaluate corporate excellence and the associated economic outcomes.

“Today, we discontinue the product as our efforts are weaved into that of the full breadth of our regional research and management teams.”

She concluded:

…The war has indeed been won for proponents of long-term corporate excellence as business models for the future need to evolve to address the greatest issues of our day. Now the warriors of the past three decades can move along with the mainstream… as will I.

We thank Erika Karp for her passion for excellence and continuing steady hand in bringing sustainable investing to the attention of asset owners and managers, financial analysts, researchers, and clients of the firm. Erika, Well Done!

The team at G&A Institute hopes that UBS will reinstate the Spotlight in the near term – with continuing focus on sustainable investing, celebrating UBS’ position in advancing the concept.

And our friend Erika has assured us  hat she will not be gone from the mainstream of the capital markets for long. We look forward to hearing about her next step!

Stay Tuned for news from her…


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