UK - The £5bn West Midlands Pension Fund has given its backing to proxy voting in Europe by signing up to the European Corporate Governance Service (ECGS), managed by Pensions Investment Research Consultants (PIRC).
The ECGS brings together corporate governance research and advisory groups in Europe and aims to create a uniform European governance and voting programme for institutional investors.
Finance director of Wolverhampton City Council, Brian Bailey, said: “Voting in Europe is a natural extension of our UK corporate governance strategy.
“The European Corporate Governance Service is best placed to provide us with the research and analysis of the key governance issues facing companies in our European Equity portfolio.”
By Madhu Kalia
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