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Social Finance is delighted to announce that David Blood has been appointed as its chair and will take up the post in April 2016, following the retirement of Bernard Horn.

Bernard Horn will step down in April 2016. He has chaired Social Finance from its inception in 2007 and has led its growth over eight years. Under his leadership, Social Finance now has more than 70 staff in London, two sister organisations in the US and Israel and a global network of partners in Canada, Australia, Brazil and Europe.

David Blood is one of the co-founders of Social Finance and has been a leading advocate for impact investment on the global stage for well over a decade. David is also co-founder of Generation Investment Management. Generation is a mission driven partnership with an investment philosophy based upon the strong belief that sustainability factors materially affect the dynamics that drive and influence the long-term performance and profitability of companies.

David Hutchison, Chief Executive welcomed the appointment, “David Blood has been a tremendous supporter of Social Finance over many years both here and in the US. We are delighted that we will benefit from his guidance and leadership in the years ahead. At the same time, we will be very sorry to say farewell to Bernard Horn. His contribution to Social Finance has been invaluable. Bernard has given of his time unfailingly and he has always been the most effective advocate for our approach in tackling complex social issues.”

For more information, please contact Alisa Helbitz, Director of Communications on 07500 433044 or alisa.helbitz@socialfinance.org.uk

Notes to editors:

1) Social Finance is a not for profit organisation that partners with governments and NGOs, social sector and financial community to find better ways of tackling social problems in the UK and beyond. Since its formation in 2007, Social Finance has mobilised over £100 million of investment and helped to design a series of programmes to improve outcomes for vulnerable individuals. Social Finance is the originator of the Social Impact Bond model.

In the UK, our work includes support for 2,000 short sentence offenders released from Peterborough Prison, 380 children on the edge of care in Essex, 2,500 young people at risk of becoming NEET and 1400 homeless youth and rough sleepers. Internationally, Social Finance is working with the Global Fund, World Bank, Grand Challenges Canada, the Inter-American Development Bank, USAID, DfID and others on Development Impact Bonds and other innovative outcomes-based financing mechanisms to address challenges in low and middle income countries. www.socialfinance.org.uk 2

2) Bernard Horn had a varied career with NatWest spanning 30 years, including six years as a Main Board Director. His roles included five years as Chief Executive of the International Businesses, and a similar period as Executive Director, Group Operations. He led significant acquisition and disposal activity whilst with the bank. He is a graduate of the Advanced Management Programme at Harvard Business School. Since leaving NatWest he has developed a portfolio of activities acting both as Chairman and non-executive director, concentrating on smaller, entrepreneurial companies in consulting and software development, (some with Private Equity backing). He is Chairman of Magic Bus UK, and a member of the Magic Bus Global Council. He was a member of the Commission on Unclaimed Assets.

3) David Blood is co-founder and Senior Partner of Generation Investment Management. Previously, he spent 18 years at Goldman Sachs including serving as co-CEO and CEO of Goldman Sachs Asset Management from 1999-2003. David received a B.A. from Hamilton College and an M.B.A. from the Harvard Graduate School of Business. He is on the Board of New Forests, Dialight, SHINE, The Nature Conservancy and Ashden, as well as a Life Trustee of Hamilton College.