The announcement yesterday that Aviva Investors is to cut 160 jobs was not good news for anyone in London's asset-management industry - but it could be particularly bad tidings for the "responsible investments" movement, in which Aviva is, or perhaps was, an acknowledged front-runner.

The move by Aviva, which is one of the foremost London investment houses, is also a blow for those politicians and other public figures who have advocated "responsible capitalism", including the UK's business secretary Vince Cable and the opposition leader Ed Miliband.