Shareholders Monthly archive

Jun 28, 2019
The week in GRC: Asset managers said to target corporate access, and Icahn wants new Occidental directors
– CNN reported that Eldorado Resorts is to buy Caesars Entertainment to create the largest gaming company in the US. Eldorado Resorts said it has agreed to buy its larger rival in a cash and stock deal worth $17.3 billion. The announcement came three months after Carl Icahn joined Caesars’ board and pushed for a sale of the company. The proposed company would ha...
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Jun 21, 2019
How CalSTRS makes sustainability work
As a portfolio manager, how do you interact with other teams within CalSTRS on ESG issues? The group I’m in used to be called corporate governance; we recently changed our name to sustainable investment and stewardship strategies. CalSTRS has had ESG considerations in the investment department for decades, [but] around 15 years ago we started to build out our capacity to understand and act on ESG issues. Back then, my CIO Christopher Ailman ...
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Jun 21, 2019
Focusing on data analysis and engagement at AllianceBernstein
Can you outline some of the key aspects of AllianceBernstein’s ESG philosophy? We think about ESG as simply good research. As analysts, we are looking at companies – but you need to look at all factors that are important to a company in a particular industry. As a signatory to the UN [Principles for Responsible Investment], we agree to integrate ESG factors into the investment process. When you think about it, shouldn’t analysts be consi...
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Jun 19, 2019
Launching an impact-investment effort at Spouting Rock
What is the history of Spouting Rock and who are its clients? Spouting Rock began as a single family office. It was founded by our current president, Blakely Page. He had been doing investments for his own family – he has a long career on Wall Street – and then the firm established a merchant bank and broker-dealer side. In 2017 it started an asset management division. We have a handful of investment products; they’re not necessarily go...
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Jun 17, 2019
The Vanguard of ESG engagement
When Adrienne Monley started in the stewardship arm of Vanguard in 2015, as a leader on the US side, there were around a dozen people working in the team. That has since tripled in size and Monley moved to London in January 2018 to hire and establish a new stewardship team with a specific focus on European firms. ‘This globalization has been very deliberate on our part...
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Jun 06, 2019
Shareholders back diversity report proposals
Shareholders have in the past few weeks given their support to at least two proposals seeking to boost disclosure about diversity. According to a regulatory filing by The Travelers Companies on its May 22 AGM, roughly 51 percent of votes supported a proposal by Trillium Asset Management requesting that the company prepare a report for investors including: A c...
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