Activist fund manager dies

Alastair Ross Goobey, a prominent British fund manager who consistently campaigned for greater corporate accountability, has died aged 62.

Ross Goobey started his career at Kleinwort Benson and finished it as chief executive of Hermes Pensions Management, where he was influential in creating and sustaining shareholder activist funds. Even before joining Hermes he was an early supporter of responsible investment and good corporate governance.

David Pitt-Watson, chairman of Hermes’ Equity Ownership Service, said: ‘He was convinced, as later research has proven, that companies with active and engaged shareholders, who allow management to manage but hold them to account when they do not, will deliver more value both in financial and social terms.’

Ross Goobey was also active in the campaigning that shaped the UK Combined Code on corporate governance, especially in the areas of directors’ contracts, transparency and accountability.

He was well rewarded in his work but did not seek the huge payments that other fund managers often demanded, claiming: ‘I missed out on the greed gene.’ A prominent and long-time member of the Conservative Party, Ross Goobey believed responsible business practice was the key to successful capitalism.