Impax North America president Keefe to retire

Impax North America president Keefe to retire
Joe Keefe, who has led the group and its precursor since 2005, will be replaced by Ed Farrington, the group's head of distribution.
MAY 18, 2023

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.”

Tips for transferring wealth from boomers, Gen Xers to their kids

Latest News

NASAA moves to let state RIAs use client testimonials, aligning with SEC rule
NASAA moves to let state RIAs use client testimonials, aligning with SEC rule

A new proposal could end the ban on promoting client reviews in states like California and Connecticut, giving state-registered advisors a level playing field with their SEC-registered peers.

Could 401(k) plan participants gain from guided personalization?
Could 401(k) plan participants gain from guided personalization?

Morningstar research data show improved retirement trajectories for self-directors and allocators placed in managed accounts.

UBS sees a net loss of 111 financial advisors in the Americas during the second quarter
UBS sees a net loss of 111 financial advisors in the Americas during the second quarter

Some in the industry say that more UBS financial advisors this year will be heading for the exits.

JPMorgan reopens fight with fintechs, crypto over fees for customer data
JPMorgan reopens fight with fintechs, crypto over fees for customer data

The Wall Street giant has blasted data middlemen as digital freeloaders, but tech firms and consumer advocates are pushing back.

The average retiree is facing $173K in health care costs, Fidelity says
The average retiree is facing $173K in health care costs, Fidelity says

Research reveals a 4% year-on-year increase in expenses that one in five Americans, including one-quarter of Gen Xers, say they have not planned for.

SPONSORED How advisors can build for high-net-worth complexity

Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.

SPONSORED RILAs bring stability, growth during volatile markets

Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.