All of our policies are regularly reviewed and accountabilities are included within different business areas. We have established a Responsibility Working Group, which meets on a quarterly basis and is constituted of senior representatives from across the business and is chaired by our Head of Responsibility. This group is charged with reviewing and making recommendations to Federated Hermes Executive Committee (ExCo) with respect to our policy and approach to all matters related to the delivery of holistic returns to the beneficiaries of our owners and clients and to share best practice across the organisation.
In addition, we have a dedicated Responsibility Office that is tasked with coordinating and supporting the development of our policies and their subsequent integration across our funds and stewardship services. The Responsibility Office’s objectives and progress are reviewed quarterly by the Responsibility Working Group. Leon Kamhi, our Head of Responsibility, reports directly to our CEO and helps the ExCo formulate and implement the long-term strategy of the firm. Each of our investment teams meet formally with the Responsibility Office on a quarterly basis to discuss their ESG and engagement integration activities.
The Responsibility Office works closely with our investment, product development, business development and other relevant teams to develop and implement a comprehensive programme to ensure our responsibility approach and activities are integrated seamlessly across our funds, stewardship services, corporate citizenship activities, employee policies, client relationship management / reporting and business development. Responsibility for its implementation lies with all of our personnel. Bespoke "responsibility accountabilities" have been defined for each business area within the organisation and, as appropriate, relevant goals will be part of each colleague's technical performance objectives. These responsibility accountabilities are reviewed annually with each business areas and actions are identified where improvements can be made. Our overall approach to responsibility is updated annually and progress is reviewed on a quarterly basis. The same applies to our engagement plan and objectives.