Social & Sustainable Capital Co-Founder & CEO, Ben Rick on Social Impact Investing in Social Enterprises Helping Vulnerable People, Lending to Charities and More (#008)

SRI360 | Socially Responsible Investing, ESG, Impact Investing, Sustainable Investing

Ben Rick (@SASCapital_Ben) is the Co-Founder and CEO of Social and Sustainable Capital, a company that provides flexible capital to enable social sector organizations grow their social impact, tackle society’s most pressing challenges, and improve the lives of disadvantaged people across the United Kingdom.

After graduating from the University of Manchester Institute of Science and Technology (now part of Manchester University) in 1993 with a degree in Management Science, Ben’s plans to train as an accountant changed rapidly when by chance, he attended a Goldman Sachs recruitment event and was offered a Management Trainee position there. He describes his transition from the back office at Goldman Sachs to the trading floor at Lehman Brothers, where he worked as a Euro Bond Trader, followed by a move to UBS where he jointly ran the corporate bond trading department. He later became Managing Director of the EMEA Global Proprietary Trading Group for Bank of America Merrill Lynch.

In our conversation, Ben explains how after his years in the City he began to find the environment, the attitudes, and focus on personal wealth distasteful and how it was his desire to make a difference that led him to leave his City career and co-found Social and Sustainable Capital.

Show notes: https://sri360.com/podcast/ben-rick
About the SRI 360° Podcast: The SRI 360° Podcast is focused exclusively on sustainable & responsible investing. In each episode, Scott Arnell interviews a world-class investor who is an accomplished practitioner from all asset classes. In my interviews, I cover everything from their early personal journeys—and what motivated and attracted them to commit their life energy to SRI—to insights on how they developed and executed their investment strategies and what challenges they face today. Each episode is a chance to go way below the surface with these impressive people and gain additional insights and useful lessons from professional investors.
SELECTED LINKS FROM THIS EPISODE:

• Connect with Ben Rick:
• Goldman Sachs
• Lehman Brothers
• UBS
• Merrill Lynch
• BTG Pactual
• Social and Sustainable Capital
• Hull Women’s Network

Chapters

1. Episode intro and bio (00:00:00)

2. Ben introduces Social and Sustainable Capital and its mission (00:03:55)

3. Ben talks of his growing distaste for the City (00:14:50)

4. The type of organisations that SASC lend to (00:19:36)

5. how Social and Sustainable Capital strikes a balance between profit and impact in its investments (00:25:43)

6. SASC's Social Housing Fund - success stories (00:28:00)

7. How investments are selected (00:34:58)

8. The challenges involved in Impact Investing (00:42:04)

9. Advice for anyone looking for a career in Social Impact Investing (00:47:20)