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
The registration deadline for the Workplace Savings & Benefits Awards 2019 is today.
This week's top stories were the DWP giving the green light to CDC and TPR granting extensions for 11 master trust authorisation applications.
Susan Martin says building strong foundations for business are the only way forward as the pensions industry is radically shaken up
The Pensions Regulator (TPR) has granted Now Pensions a six-week extension for its master trust authorisation application after the 31 March deadline, PP can reveal.