Ralph Quartano, who died in January at the age of 93, was a true investment pioneer. Appointed CEO of PosTel Investment Management in 1983 — later Hermes Investment Management and now the international business of Federated Hermes — he brought with him a relentless zeal that made him a force to be reckoned with by corporate boardrooms of the 1980s.

He berated executives for some of their cosier arrangements, whether it was charitable house rentals or generous golden handshakes. In doing so, he changed how fund managers behaved and were perceived, challenging companies in which their funds invested and driving change.