Harry and Meghan to promote and invest in ethical banking in latest business venture

Prince Harry and his wife Meghan Markle have ventured into a new business venture after their deals worth hundreds of millions of dollars with Netflix and Spotify. This time the power couple’s new venture is the investment business. They are a part of a new fintech firm called Ethics as investors as well as “impact partners.” The fintech is called Ethic and it manages assets and invests in businesses that pass “social responsibility criteria” set by the firm.

Ethic is a fintech asset manager based in New York and has $1.3 billion under management. It was founded by three members: Briton Jay Lipman and Australians Doug Scott and Johny Mair who used to work in banks such as Deutsche Bank and JP Morgan Chase. They said that they felt that there was a need for ethical funds and so they started a firm that would invest in companies that had environmental friendly and social goals.

In an exclusive interview with the New York Times both Meghan and Harry spoke to DealBook. Meghan mentioned that the world she came from did not provide her with the luxury to invest and it sounded “fancy” to her. She also said that her husband had mentioned that that he wished that there could be a place that was aligned with their values and where they could put money. She added that they were introduced to Ethic by friends.

Harry told DealBook that the younger generation voted with their dollars and their pounds all over the world when it came to choosing brands and he suggested that it would a natural extension when it came to the matter of them making investments.

Harry and Meghan have chartered their own course after they moved to America, away from the royal family in which Harry was born. They are involved in deals with Netflix and Spotify. Harry also produced a documentary series with Oprah Winfrey. It was a part of a deal with Apple TV+. He is also writing a memoir.

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