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Leading Proxy Advisory Firms Offer New Unbiased Proxy Voting Service
Leading Proxy Advisory Firms Offer New Unbiased Proxy Voting Service
Published 09-05-03
Submitted by IRRC
With this enhanced service, institutional investors have the option of a turnkey solution that encompasses all aspects of the proxy voting process: in-depth analysis and case-by-case recommendations on thousands of proxy issues, social issues research, Taft-Hartley services, and complete vote execution, record-keeping and reporting services.
Institutional investors can now outsource some or all of the proxy voting process using IRRC's Voting Agency Service, incorporating Glass Lewis recommendations to provide guidance for votes on the increasingly complex issues faced by fiduciaries. IRRC also manages the operational end of the process - ensuring compliance with all applicable laws and regulations. The IRRC and Glass Lewis solution is completely free from conflicts of interest.
"The market has been looking for a proxy voting solution with recommendations that have integrity. We are pleased to bring our history of impartiality and proxy expertise to the plate. Our partnership with Glass Lewis is a perfect fit -- their voting recommendations based on expert analysis, combined with our proxy voting services, will enable institutions to maximize the value of their portfolios," said Linda Crompton, President and CEO of IRRC.
The Glass Lewis research division, led by Lynn E. Turner, former chief accountant of the Securities and Exchange Commission, is comprised of accounting, finance, legal and public policy professionals. Glass Lewis' multidisciplinary approach provides valuable insights into complex financial and corporate integrity issues, including quality of the Board of Directors, equity-based compensation plans, mergers and acquisitions, employee stock purchase plans, options re-pricing and deferred compensation programs, among others.
"This partnership with IRRC provides institutional investors a real choice in the field of proxy voting. With proxy issues growing ever more complex, we believe that our rigorous economic analysis by professionals, combined with IRRC's long history of superior operational execution, delivers a powerful alternative solution to institutional investors," said Gregory P. Taxin, CEO of Glass, Lewis & Co. "This offering will be the only objective, comprehensive voting agency solution in the market."
About IRRC
For more than 30 years, the Investor Responsibility Research Center has been the leading source of high quality, impartial information on corporate governance and social responsibility issues affecting investors and corporations worldwide. Today, IRRC provides research, software products and consulting services to more than 600 clients including institutional investors, corporations, law firms and other organizations. Learn more about IRRC at www.irrc.com.
About Glass, Lewis & Co.
Glass, Lewis & Co. is an independent investment research firm that provides valuable insight into complex financial and integrity issues, including accounting policies, financial transparency, quality of board oversight, pay-for-performance, equity-based compensation, and mergers and acquisitions. Through its three principal products - Proxy Paper, CorpUS Report and Yellow Card Alert - Glass Lewis enables institutional investors to maximize the value of their portfolios by making better investment and proxy voting decisions. Learn more about Glass Lewis at www.glasslewis.com.
