Ethex
"Ethex started life as idea in the head of our founder, Jamie Hartzell, over ten years ago. In the late 80s and early 90s, a number of innovative pioneers felt that they could use the power of business to address social problems. They started a range of exciting new businesses working in fair trade, renewable energy, organic farming and other areas. To raise the capital they needed they issued shares to the general public. One of these businesses was the Ethical Property Company, which Jamie founded in 1998 and ran for 13 years.
"These businesses grew rapidly, although a major limit on their growth was the lack of an active market to trade their shares. None of the businesses wanted to join the main exchanges such as the London Stock Exchange, as they felt that these exchanges would not understand a business that was offering social, financial and environmental returns in equal measure. They felt that listing on the main exchanges would compromise the mission of their business and offer poor value to their investors, but there was not a social/ethical stock exchange to list on.
"At Jamie’s initiative, Triodos Bank started a small share matching service in four businesses in 2003, under the name Ethex. However, Triodos did not develop the service further and in 2006 the four businesses decided to transfer the service to the commercial broker Brewin Dolphin Securities Ltd. Brewin ran the service effectively for several years, but has recently lost enthusiasm for it.
"Frustrated that something that was clearly such a good idea was not making progress, in 2012 Jamie decided to step down from the Ethical Property Company to make Ethex happen. Jamie was able to raise substantial finance from trusts and foundations in support of the idea, and set about pulling a team of directors and staff around him that could make his vision of opening truly ethical investment to all a reality!" [1]
"Ethex has initially been supported by a number of trusts and foundations offering a mixture of grants and favourable loans. These are: Tudor Trust , Esmée Fairbairn Foundation, LankellyChase Foundation, Friends Provident Foundation, Barrow Cadbury Trust , Big Lottery Fund.
"In the longer term, Ethex intends to become self-financing, with income generated from both our business and our investor members. "[2]
Board
Accessed December 2013: [3]
- Caroline Mason - Non-executive Director
- Geoff Chapman - Chair
- Jonathan Jenkins - Non-executive Director
- Malcolm Lynch - Secretary
- Jamie Hartzell - Managing Director and Founder
