Norway’s sovereign wealth fund, the Government Pension Fund Global, has upped the pressure on companies it holds by releasing a position paper alongside its quarterly report for 26 October, in which it argues strongly for a separation of the CEO and chairman roles. The giant fund also announced that it is seeking improvements across boards […]
Wide-ranging reform is set to continue in Japan following Prime Minister Shinzo Abe’s ruling coalition’s victory in the nation’s upper house. The majority mandate should contribute positively to the outlook for the Japanese equity market and GDP in general. For Japan’s corporates, we believe the result signals further progress in the area of corporate governance. […]
Hans-Christoph Hirt, co-head of Hermes EOS comments on the Deutsche Bank AGM on Thursday,19th of May. Following a longstanding engagement with Deutsche Bank, Hermes EOS, on behalf of a group of more than 40 institutional investors, urged the supervisory board ahead of and at the AGM on 21 May 2015 to review the composition of the […]
The majority vote of shareholders against BP’s remuneration report at the company’s AGM last week has brought comparisons with the so-called shareholder spring of 2012 during which a number of companies faced significant opposition from investors on pay packages. This in turn led to new legislation on executive pay in the UK in 2013: Shareholders […]
Dechert LLP has highlighted ongoing consultation in Ireland on corporate governance of investment firms in its latest roundup of key European regulatory changes. Consultation Paper 94, issued by the Central Bank of Ireland outlines the new requirements that investment firms, their boards and executives will have to abide by in future. “The Central Bank continues […]
Global investment business Towers Watson has appointed Hermes EOS, one of the world’s leading engagement services, to advance its stewardship activities. Hermes EOS engages on ESG issues in public policy in addition to its corporate engagements. It is supporting various collective investor policy groups – including the Principles for Responsible Investment, the Institutional Investors Group […]
Societe Generale has named Lorenzo Bini Smaghi as chairman of the Board of Directors and Frédéric Oudea as CEO. This change in corporate governance meets the requirements applicable to banks in Europe. “Taking place just after the Group successfully joined the European Banking Union, and in an increasingly demanding economic, competitive and regulatory environment, it will […]
Rising demand from European investors has led Sumitomo Mitsui Trust Group (Sumi Trust) to launch a euro share class for its Japanese Equity Fundamental Value Satellite fund. The manager, which has some $497bn in overall AUM, said its flagship fund would continue to offer yen denominated shares, while additional currency share classes are likely to […]
Italy needs to find its own way to corporate governance, according to local
industry association Nedcommunity.
A survey published by Roland Berger has found that corporate headquarters in Europe are growing in size, but it’s important that they add value to the entire group.
Governance for Owners CEO Stephen Cohen argues there is a role for asset management in the space between support for good causes and the ruthlessness of vulture funds.
The International Corporate Governance Network (ICGN), a global investor-led network with members representing assets under management in excess of $18trn, has appointed four new governors to its Board.