
Imagine a tobacco-free world.
Let’s start with tobacco-free finance.
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Tobacco Free Portfolios is an accomplished team of medical doctors, ethics experts and sustainable finance professionals, located in three different key financial markets and actively working across more than twenty countries. Working collaboratively with finance leaders – spanning banking, insurance, pension funds, sovereign wealth funds, asset management and rating agencies – the Tobacco Free Portfolios team puts tobacco-free finance on the agenda. Tobacco exclusions are increasingly considered a fundamental step on the journey to integrate sustainability, responsibility and transparency into the fabric of mainstream business. In the process, a new bridge is being built between the health and finance sectors and a novel approach to bring an end to the world’s greatest cause of preventable death, is being embraced.
Tobacco Free Portfolios is an accomplished team of medical doctors, ethics experts and sustainable finance professionals with a global reach. Working collaboratively with finance leaders – spanning banking, insurance, pension funds, sovereign wealth funds, asset management and rating agencies – the Tobacco Free Portfolios team has put tobacco-free finance on the agenda across Europe.
Tobacco exclusions are increasingly accepted as a fundamental cornerstone and step on the journey to integrate sustainability, responsibility and transparency into the fabric of mainstream business. In the process, new bridges have been built between the health and finance sectors, and a novel approach to bring an end to the world’s greatest cause of preventable death, is being embraced.
The European finance sector has led in implementing tobacco-free finance, with some of the world’s largest pension funds, banks, insurers and asset managers celebrating the global health benefits and positive financial outcomes of a tobacco-free position.
Financial institutions across the USA are rapidly expanding offerings of sustainability-aligned products, as unprecedented demand surges. Sustainability is now entrenched as a material issue in corporate boardrooms, where frameworks are being drafted, tested and refined. Tobacco-free finance is a crucial step on this journey.

Dr Bronwyn King AO, MBBS, FRANZCR – Founder, Director and CEOFounder, Director and CEO
Dr Bronwyn King AO began her medical career working as a doctor on the lung cancer ward at the Peter MacCallum Cancer Centre in Melbourne, Australia. While doing her best to treat her patients (many of whom had started smoking in childhood) Dr King observed first-hand the truly devastating impact of tobacco - many deaths and much suffering. She was unaware that at the very same time she was investing in Big Tobacco via her compulsory superannuation (pension) fund. Tobacco Free Portfolios was set up in response to that uncomfortable discovery. Since then, Dr King has assembled an accomplished team that has been instrumental in advancing the switch to tobacco-free finance across the globe. Her 2017 TEDx talk on tobacco-free finance has been viewed more than three million times.

Ms Clare Payne – Director of CommunicationsDirector of Communications
Clare advises businesses and leaders on ethics, good governance and trust. She is a former employment lawyer who managed the integrity office of Macquarie Bank and founded The Banking and Finance Oath, a Hippocratic-type oath for those in finance. Prior to the global financial crisis, Clare’s paper titled, ‘Ethics or Bust’ was awarded the inaugural Ethics & Trust in Finance Prize by the Observatoire de la Finance, Geneva. Clare then went on to co-author, A Matter of Trust - The Practice of Ethics in Finance (2018).

Ms Milena Stojceska – Partnerships and Program ManagerPartnerships and Program Manager
Milena has been an advisor to politicians, business leaders, female founders and foundations. At the Australian Consulate-General in New York she focused on the expansion of Australian businesses into the USA. Prior to her diplomatic role, she advised The Australian Minister for Trade, Tourism and Investment, drawing on her deep background in communications and media. She began her career in journalism, including time with Nine News in Australia after being awarded the John Burton Cadetship Scholarship in Journalism from Bond University.

Ms Sarrah El Fersaoui – Project Manager4
Sarrah holds a master’s degree in Law, Economics and Management, specialising in Corporate Social Responsibility (CSR) from the University of Versailles, and a master’s degree in Project Management from Centrale Paris. She started her professional career in a quality engineer role, coordinating standards implementation and indicators analysis with ALD (Société Générale Group). She initiated ambitious projects such as ISO 9001 certification and carbon footprint reduction and became increasingly interested in the implementation of CSR projects. Her role involved working with strategic project portfolios across 42 countries for the Société Générale branch.

Dr Kate Maxfield – Project ManagerProject Manager
Dr Kate Maxfield is a practicing medical doctor with over a decade of experience in healthcare, having worked in diverse roles across Australian public and private health systems. Her interest in the intersection of politics, economics and healthcare inspired her to complete a Diploma of Liberal Arts alongside her medical degree at Monash University and in 2018 she commenced a Masters in Disaster, Development and Adaption at King’s College London, with a desire to enhance expertise in global health.

Ms Lisa Nicolaou – Executive AssistantExecutive Assistant
Lisa has extensive administrative skills and experience, primarily in travel, tourism and public health in both Australia and the UK. Lisa first worked with Dr King over a decade ago, at the Peter MacCallum Cancer Centre in Melbourne, where she supported the Radiation Oncology specialists. Lisa clearly remembers the day in 2010 when Dr King had ‘the conversation’ with her superannuation fund and discovered that she was unwittingly investing her money in tobacco.

Dr Bronwyn King AO, MBBS, FRANZCR – Founder, Director and CEOFounder, Director and CEO
Dr Bronwyn King AO began her medical career working as a doctor on the lung cancer ward at the Peter MacCallum Cancer Centre in Melbourne, Australia. While doing her best to treat her patients (many of whom had started smoking in childhood) Dr King observed first-hand the truly devastating impact of tobacco - many deaths and much suffering. She was unaware that at the very same time she was investing in Big Tobacco via her compulsory superannuation (pension) fund. Tobacco Free Portfolios was set up in response to that uncomfortable discovery. Since then, Dr King has assembled an accomplished team that has been instrumental in advancing the switch to tobacco-free finance across the globe. Her 2017 TEDx talk on tobacco-free finance has been viewed more than three million times.

Ms Clare Payne – Director of CommunicationsDirector of Communications
Clare advises businesses and leaders on ethics, good governance and trust. She is a former employment lawyer who managed the integrity office of Macquarie Bank and founded The Banking and Finance Oath, a Hippocratic-type oath for those in finance. Prior to the global financial crisis, Clare’s paper titled, ‘Ethics or Bust’ was awarded the inaugural Ethics & Trust in Finance Prize by the Observatoire de la Finance, Geneva. Clare then went on to co-author, A Matter of Trust - The Practice of Ethics in Finance (2018).

Ms Milena Stojceska – Partnerships and Program ManagerPartnerships and Program Manager
Milena has been an advisor to politicians, business leaders, female founders and foundations. At the Australian Consulate-General in New York she focused on the expansion of Australian businesses into the USA. Prior to her diplomatic role, she advised The Australian Minister for Trade, Tourism and Investment, drawing on her deep background in communications and media. She began her career in journalism, including time with Nine News in Australia after being awarded the John Burton Cadetship Scholarship in Journalism from Bond University.

Ms Sarrah El Fersaoui – Project Manager4
Sarrah holds a master’s degree in Law, Economics and Management, specialising in Corporate Social Responsibility (CSR) from the University of Versailles, and a master’s degree in Project Management from Centrale Paris. She started her professional career in a quality engineer role, coordinating standards implementation and indicators analysis with ALD (Société Générale Group). She initiated ambitious projects such as ISO 9001 certification and carbon footprint reduction and became increasingly interested in the implementation of CSR projects. Her role involved working with strategic project portfolios across 42 countries for the Société Générale branch.

Dr Kate Maxfield – Project ManagerProject Manager
Dr Kate Maxfield is a practicing medical doctor with over a decade of experience in healthcare, having worked in diverse roles across Australian public and private health systems. Her interest in the intersection of politics, economics and healthcare inspired her to complete a Diploma of Liberal Arts alongside her medical degree at Monash University and in 2018 she commenced a Masters in Disaster, Development and Adaption at King’s College London, with a desire to enhance expertise in global health.

Ms Lisa Nicolaou – Executive AssistantExecutive Assistant
Lisa has extensive administrative skills and experience, primarily in travel, tourism and public health in both Australia and the UK. Lisa first worked with Dr King over a decade ago, at the Peter MacCallum Cancer Centre in Melbourne, where she supported the Radiation Oncology specialists. Lisa clearly remembers the day in 2010 when Dr King had ‘the conversation’ with her superannuation fund and discovered that she was unwittingly investing her money in tobacco.

Dr Bronwyn King AO, MBBS, FRANZCR – Founder, Director and CEOFounder, Director and CEO
Dr Bronwyn King AO began her medical career working as a doctor on the lung cancer ward at the Peter MacCallum Cancer Centre in Melbourne, Australia. While doing her best to treat her patients (many of whom had started smoking in childhood) Dr King observed first-hand the truly devastating impact of tobacco - many deaths and much suffering. She was unaware that at the very same time she was investing in Big Tobacco via her compulsory superannuation (pension) fund. Tobacco Free Portfolios was set up in response to that uncomfortable discovery. Since then, Dr King has assembled an accomplished team that has been instrumental in advancing the switch to tobacco-free finance across the globe. Her 2017 TEDx talk on tobacco-free finance has been viewed more than three million times.

Ms Clare Payne – Director of CommunicationsDirector of Communications
Clare advises businesses and leaders on ethics, good governance and trust. She is a former employment lawyer who managed the integrity office of Macquarie Bank and founded The Banking and Finance Oath, a Hippocratic-type oath for those in finance. Prior to the global financial crisis, Clare’s paper titled, ‘Ethics or Bust’ was awarded the inaugural Ethics & Trust in Finance Prize by the Observatoire de la Finance, Geneva. Clare then went on to co-author, A Matter of Trust - The Practice of Ethics in Finance (2018).

Ms Milena Stojceska – Partnerships and Program ManagerPartnerships and Program Manager
Milena has been an advisor to politicians, business leaders, female founders and foundations. At the Australian Consulate-General in New York she focused on the expansion of Australian businesses into the USA. Prior to her diplomatic role, she advised The Australian Minister for Trade, Tourism and Investment, drawing on her deep background in communications and media. She began her career in journalism, including time with Nine News in Australia after being awarded the John Burton Cadetship Scholarship in Journalism from Bond University.

Ms Sarrah El Fersaoui – Project Manager4
Sarrah holds a master’s degree in Law, Economics and Management, specialising in Corporate Social Responsibility (CSR) from the University of Versailles, and a master’s degree in Project Management from Centrale Paris. She started her professional career in a quality engineer role, coordinating standards implementation and indicators analysis with ALD (Société Générale Group). She initiated ambitious projects such as ISO 9001 certification and carbon footprint reduction and became increasingly interested in the implementation of CSR projects. Her role involved working with strategic project portfolios across 42 countries for the Société Générale branch.

Dr Kate Maxfield – Project ManagerProject Manager
Dr Kate Maxfield is a practicing medical doctor with over a decade of experience in healthcare, having worked in diverse roles across Australian public and private health systems. Her interest in the intersection of politics, economics and healthcare inspired her to complete a Diploma of Liberal Arts alongside her medical degree at Monash University and in 2018 she commenced a Masters in Disaster, Development and Adaption at King’s College London, with a desire to enhance expertise in global health.

Ms Lisa Nicolaou – Executive AssistantExecutive Assistant
Lisa has extensive administrative skills and experience, primarily in travel, tourism and public health in both Australia and the UK. Lisa first worked with Dr King over a decade ago, at the Peter MacCallum Cancer Centre in Melbourne, where she supported the Radiation Oncology specialists. Lisa clearly remembers the day in 2010 when Dr King had ‘the conversation’ with her superannuation fund and discovered that she was unwittingly investing her money in tobacco.
Our vision is for a world free from tobacco.
Our mission is to inform, prioritise and advance tobacco-free finance.
Board members
Global Advisory Council
Leaders in finance, health, government and philanthropy support Tobacco Free Portfolios through our Global Advisory Council.