Arjuna Capital
Industry Thought Leaders in Sustainable Investing working to build client wealth and impact

Our Investment Team

Arjuna Capital and Baldwin Brothers include 11 investment professionals and 12 operations staff, all dedicated to serving clients. We manage a total of approximately $1 billion dollars in assets.

Arjuna Capital Leadership Team

Adam Seitchik, Ph.D., CFA serves as the Chief Investment Officer (CIO) of Arjuna Capital.

A thought leader in sustainable investing, Adam was the co-CEO and CIO of responsible investment specialist Trillium Asset Management and is the Executive Director of the Sustainable Investment Research Center. A frequent writer and speaker on sustainable investing, Adam is the author of Climate Change from the Investor’s Perspective (for the Civil Society Institute). Adam holds a Ph.D. in economics and early in his career was an assistant professor at Wellesley College. Adam served as the Chief Global Strategist at Deutsche Asset Management in London, as an Analyst and Portfolio Manager at Wellington Management in Boston, and is a Chartered Financial Analyst.  He is a trustee of the Hyams Foundation in Boston, and is on the faculty at Bainbridge Graduate Institute, a leader in sustainable business education.


Farnum Brown, Ph.D. is Arjuna Capital’s Chief Strategist and lead portfolio manager, and runs Arjuna’s Durham, NC office.

Farnum entered the investment business in 1980 and in 1987 established one of the first socially responsible investment advisory services in the southeastern United States. From 1994 to 2012 Farnum worked at Trillium Asset Management, a pioneer in responsible investing. At Trillium he was a senior vice president, technical analyst and the firm’s chief strategist. Farnum founded the non-profit Open Media and Information Company Initiative (OpenMIC), a shareholder coalition promoting an open, competitive digital ecosystem. He serves on the Boards of Directors of the Future of Music Coalition and of the Public Media Company. Farnum received his bachelors, masters and doctoral degrees in philosophy from the University of North Carolina at Chapel Hill.



Natasha Lamb is the Director of Equity Research and Shareholder Engagement and a portfolio manager at Arjuna Capital.

Specializing in the integration of sustainability and shareholder value creation, Natasha integrates Environmental Social and Governance (ESG) factors into fundamental investment decisions, while engaging corporate leadership to improve performance through shareholder proposals, dialog, and public policy advocacy. Previously, Natasha was Vice President, Shareholder Advocacy and Corporate Engagement and an Equity Analyst at Trillium Asset Management.  Natasha contributes thought leadership to the Guardian; as a Ceres Coalition member, advising corporate leadership; through the United Nations' UNEP FI Climate Change Working Group; and as a founding organizer of Greater Boston Slow Money.  In 2013 Natasha was nominated for the SRI service award for engaging natural gas companies on high global warming potential methane emissions.  Natasha teaches sustainable investing at Bainbridge Graduate Institute where she sits on the Board Finance Committee. She holds an M.B.A in Sustainable Business from Bainbridge Graduate Institute, a pioneer in sustainable business education, and received her B.A. cum laude from Mount Holyoke College.


Ellen Stone is a Managing Partner and portfolio manager and is a member of the leadership team of Arjuna Capital.

Ellen has been involved in the financial industry since 1973 and the investment industry since 1995.  She has been integrating environmental and social investments for clients across asset classes since the late 1990s.  Ellen co-founded the Highwater Global Fund, a unique global equity fund investing in high-impact global public equities.  Ellen previously worked for the First National Bank of Boston as a foreign exchange trader and advisor and later for the Bank of America in San Francisco as vice president of global treasury management for select Fortune 500 companies.  She has served on numerous local and regional not-for-profit Boards. Ellen has a BA in history from Smith College.


Bill Marvel is a Managing Director and portfolio manager and is a member of the leadership team of Arjuna Capital.

Bill has over 15 years experience in environmental and social investing and investment management.   He has been at the forefront of impact investing, helping to scale responsible and sustainable investments.  Bill's focus has been making sustainable investing a mainstream opportunity for individuals, families and institutions.  He co-founded GreenTech Research LLC, one of the first clean energy hedge funds. Bill was Chief Operating Officer at SCA Group, a multi-billion dollar family office and investment management consulting firm. He oversaw operations, portfolio management, investment manager due diligence, strategy analysis, and asset allocation modeling. Bill is a member of the Forum for Sustainable and Responsible Investment and Investors’ Circle.  He earned an MBA from Boston University and a BS in Business Management from Ithaca College.


Team Depth at Baldwin Brothers

The investment team at Baldwin Brothers is fully integrated with Arjuna Capital and includes Michael Baldwin, the firm’s founder and creator of the Marion Institute.

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