Cliff Prior, chief executive of Big Society Capital, will leave his role later this year, it was today announced.
Prior, who has been chief executive of the social impact investor since 2016, will take up the same role at the Global Steering Group for Impact Investment in May.
The GSC is an international steering group promoting sustainable development and advancing education in impact investment. It was set up in 2015 as the successor to the Social Impact Investment Taskforce set up by the UK during its G8 presidency.
Big Society Capital said in a statement that it would immediately begin the search for a new chief executive.
During his time at Big Society Capital, he helped to set up the blended finance foundation Access and saw the worth of the UK’s social investment market climb to £3.5bn in 2019.
Prior said in a statement: “It has been a truly great privilege to work with such a fabulous, purposeful and inspirational team.
“Now is the time for a new chief executive to take the organisation to even greater heights and purpose by building new connections with more impact investors and development partners.”
Sir Harvey McGrath, chair of Big Society Capital, said: “Cliff’s vision has always been that social impact investment could unlock the potential of social enterprises and charities to transform the lives of people in the UK.
“Cliff has played a leading role in building a movement in social impact investing and in creating the broader impact ecosystem. He is leaving Big Society Capital in an excellent position to continue supporting this development of the wider social investment market.”