Social and Sustainable Capital (SASC) has expanded its board with the appointment of two new trustees, Rachel Hardy who is Chief Executive at Foresters Friendly Society and Sonali Siriwardena, an Executive Director at Morgan Stanley Investment Management.

Rachel and Sonali join at a time of significant growth for SASC, driven by their flagship fund, Social and Sustainable Housing. Both will join SASC’s Finance, Audit and Risk committee which Rachel will chair.

Rachel has 20 years’ experience in commercial businesses and large audit and accountancy practices. Prior to her current role at Foresters Friendly Society, she was a Director at Smith & Williamson and BDO.

Rachel said, “I am very pleased to be joining the Board of SASC. As an organisation SASC truly focuses on delivering solutions to social challenges through its investment funds. 2020 was a challenging year for all charities and social enterprises which has highlighted the important role organisations like SASC play in improving the wellbeing of individuals, families, groups and communities. I look forward to supporting colleagues at SASC to deliver meaningful outcomes for our partners.”

Sonali joins SASC as the Board representative for Social Investment Business (SIB), an investor in SASC and its funds.  At Morgan Stanley Investment Management she is the Global Sustainability Regulatory and Policy Lead, and a specialist in sustainable investment funds.  She is the Co-Chair of Morgan Stanley’s Women’s Business Alliance (WBA), the largest diversity network of the Firm.

Sonali said, “I have been very impressed by SASC’s growth and I look forward to exploring ways to develop the partnership between SIB and SASC.  I am an investment funds lawyer specialising in sustainable investing and will use my professional experience and expertise to enable SASC to achieve its vision and deliver on both its impact and financial returns objectives.”

Ben Rick, Managing Director, SASC said, “We’re delighted to welcome Rachel and Sonali to our Board. They have many years’ relevant experience, and having them join our new Finance, Audit and Risk subcommittee will be very beneficial in our current phase of growth.”

“This year we will conclude fundraising for our award-winning Social and Sustainable Housing (SASH) fund, and we are developing new products in both the housing and community renewables sector. To support our expansion, we have recruited new team members and having this extra capacity at board level will be invaluable.”


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