#255 'Co-Leading The Responsible Investment Movement', Dean Hegarty Co-CEO at RIAA

Dean Hegarty became Co-CEO of the Responsible Investment Association Australasia (RIAA) to help grow the role investment plays in tackling social and environmental challenges. As the first New Zealand-based CEO of the organisation, he brings a different viewpoint-shaped by his background outside traditional finance and by a strong belief in collaboration. Alongside Co-CEO Estelle Parker, Hegarty is helping to lead RIAA’s mission across both sides of the Tasman through a model of shared leadership that values trust, transparency, and purpose.

RIAA represents a broad membership base of asset owners, fund managers, advisers, and others committed to using capital as a force for positive change. The association sets standards, influences policy, and supports investment practices that account for environmental, social, and governance (ESG) outcomes.

For Hegarty, responsible investment is about more than avoiding harm—it’s about enabling capital to contribute to a fairer and more sustainable future. He sees the sector at a pivotal moment, with ESG no longer on the margins but increasingly part of mainstream investment decisions. As renewable energy becomes more affordable and social pressures mount, investors are paying closer attention to long-term value and societal impact.

“Responsible investment has shifted from being the right thing to do, to also being the smart thing to do,” Hegarty notes.

But he’s quick to point out that momentum alone isn’t enough. “There are still barriers preventing capital from reaching the projects and communities that need it most.”

As someone who came into the investment world relatively recently, Hegarty speaks openly about his learning curve—supported by mentors and colleagues willing to share their knowledge.

Based in Queenstown, he leads RIAA’s New Zealand efforts and contributes to its trans-Tasman presence. His location has required adaptability and clear communication, particularly when it comes to staying connected with the Melbourne-based team.

The decision to adopt a Co-CEO model was a deliberate move by RIAA. Hegarty and Parker bring complementary strengths: Parker with her background in diplomacy and public policy, and Hegarty with a values-led, mission-oriented approach shaped by his experience in New Zealand’s sustainability and business communities. Their partnership is built on mutual respect, open dialogue, and a shared commitment to the organisation’s purpose.

While co-leadership can present challenges—especially across time zones and geographies—Hegarty sees its benefits clearly.

“Two perspectives allow us to make better decisions. We each bring different questions to the table, which helps test our thinking and improve outcomes.”

The arrangement also enables deeper engagement across both Australia and New Zealand, two markets with distinct regulatory settings and investment landscapes. RIAA’s growing influence in both jurisdictions benefits from having visible leadership on the ground in each.

Looking ahead, Hegarty wants to see responsible investment become more inclusive. He believes that improving financial literacy and access- especially through mechanisms like KiwiSaver—will help grow the pool of capital directed toward positive outcomes. He describes responsible investment as a spectrum, with approaches ranging from avoiding harm to actively investing in solutions, such as renewable energy, affordable housing, and infrastructure.

Ultimately, Hegarty’s focus is on creating the conditions where more capital can flow to where it’s needed most. “If we want investment to serve the future-not just the present- we need to make it easier for good money to find good outcomes.”

Through his leadership at RIAA, Dean Hegarty is helping shift how the investment sector sees its role in society—not as separate from social and environmental challenges, but as a vital part of the solution.