Cliff Prior, currently CEO of Big Society Capital, will take over from GSG inaugural CEO Amit Bhatia.

London, 4th February 2020: The Global Steering Group for Impact Investment has announced that Cliff Prior will be joining as their new Chief Executive, taking over from the inaugural CEO, Amit Bhatia.

The Global Steering Group for Impact Investment (GSG – www.gsgii.org) is an independent global steering group promoting sustainable development and advancing education in impact investment. The GSG was established in 2015 as the successor to, and incorporating the work of, the Social Impact Investment Taskforce established under the UK’s presidency of the G8. The GSG’s National Advisory Boards currently cover 32 countries, plus the EU. It has established strategic partnerships with leading global organisations such as UNDP and the Impact Management Project. It is an organisation of over 500 senior people, chaired by Sir Ronald Cohen, which brings together leaders from the worlds of finance, business, government, social organizations and philanthropy.

Sir Ronald Cohen, said, “I am personally delighted to welcome Cliff as our new CEO. His experience and understanding of the impact space are outstanding. We have worked together for several years at Big Society Capital and at the G8 Taskforce before that and Cliff has been a constant and important leader in the GSG community as an impact movement champion, Chair of working groups and leader of discussions at our convenings.  Cliff has chaired an important Working Group of the G8 Taskforce as well as our 2018 GSG Working Group on impact wholesalers, which has resulted in several countries looking to adopt the wholesaler model that Cliff has promoted. His contribution to the impact movement is already remarkable and we are very fortunate that he has decided to join GSG.  As we announce Cliff’s appointment, I would like to take the opportunity to thank Amit Bhatia most warmly for his pioneering achievements and great personal commitment to the impact movement.”

Cliff Prior who will take up his new role at GSG in May said, “I am joining the GSG at a time when the impact movement is gathering great momentum. GSG was born at the G8 meeting presided by the UK eight years ago and is now working with 32 countries to bring impact investment to entrepreneurs, business, philanthropy and government and put us on the way to impact economies. It will be a huge responsibility to take forward the outstanding success of my brilliant predecessor Amit Bhatia.”

Prior joins from his role as CEO at Big Society Capital, which has recorded some notable achievements over the past 4 years under his leadership. BSC has now committed a total of £600m into funds investing in social enterprises and charities and helped to bring more than double that amount from other investors, totalling investment commitments of almost £2 billion, of which £1.2 billion have already been deployed, to improve the lives of many people across the UK. It has also set up and fund the Access Foundation, to provide blended finance for smaller charities and social enterprises.

To date, more than 1200 organisations have benefitted from social impact investment from BSC.  The wider social investment market has grown considerably over this time to more than £3.5 billion.

 

About Cliff Prior CBE:

Cliff Prior has been CEO of Big Society Capital since 2016. Previously he was CEO at UnLtd – the UK foundation for social entrepreneurs – and Rethink, the UK’s charity for people affected by severe mental illness. Further back he was a director at the Mental Health Foundation and Stonham Housing Association, and worked in two crisis intervention counselling agencies. He has started new social ventures, co-creating Stonewall and Strutton Housing Associations, and supported the development of several support organisations in homelessness, health and social care, and diversity. Cliff has contributed to government programmes including the NHS modernisation agency, and as a regulator for medicines and healthcare. He has been a board member in foundations and leadership agencies, and mentors aspiring leaders for social purpose. Cliff is currently a board member of the Impact Investing Institute, the International Venture Philanthropy Centre, and Acumen Academy UK.

 

About GSG

The Global Steering Group for Impact Investment (GSG – www.gsgii.org) is an independent global steering group promoting sustainable development and advancing education in impact investment. The GSG was established in 2015 as the successor to, and incorporating the work of, the Social Impact Investment Taskforce established under the UK’s presidency of the G8.

The GSG’s National Advisory Boards (NABs) currently cover 32 countries, plus the EU. It has established strategic partnerships with leading global organisations such as UNDP and the Impact Management Project. It is an organisation of over 500 senior people, chaired by Sir Ronald Cohen, which brings together leaders from the worlds of finance, business, government, social organizations and philanthropy.

The GSG, a British charity, aims to bring solutions to social and environmental challenges through education by spreading the use of impact approaches in making philanthropic, business and investment decisions.

 

About Big Society Capital

Big Society Capital is the UK’s leading social impact investor. We unite capital, expertise and ideas to improve people’s lives.

Working with expert partners, we seek to understand people’s needs first. Then, using our knowledge and capital, we collaborate and invest with fund managers who also want to create a better, sustainable future.

They, and the social enterprises and charities they invest in, create the impact. Our role is to bring the most relevant experts from our network to the table, generating ideas and connecting capital to where it’s most needed. With the others who have invested alongside us, we have made nearly £2bn of new capital available to help improve lives.

We want to give more people and communities the chance to have an impact on the issues they care about – from affordable homes to vulnerable older people, and preventing mental ill health.

In this way, we create opportunities for investors and enterprises to generate systemic social change, not just today but for generations to come.

 

Contacts for Media Inquiries

Big Society Capital  – David Dinnage, Communications Director,

Ddinnage@bigsocietycapital.com, 07775 600582

 

GSG – Alasdair Maclay, Chief Funds Officer,

alasdair@gsgii.org, 07950235110