US/UK - A cross-section of US institutional investors, state treasurers and labour unions have called on Tyco International to set a specific timetable for the company to make a decision on returning the company from Bermuda to US soil.
“The only way for shareholders to truly hold Tyco accountable is for the company to reincorporate in the US,” said American Federation of State, County and Municipal Employees president Gerald McEntee, whose union is sponsoring the Tyco shareholder resolution.
California State Treasurer Phil Angelides said the Come Home to America campaign is aimed at nearly two dozen US firms that have taken legal refuge in sham overseas addresses.
In the UK, trade unionists have been told they should use their power as shareholders to stop excessive executive pay and failings in corporate governance.
The TUC is targeting 900 members of its member trustee network.
These pension fund trustees have responsibility for invested funds amounting to around £260bn – one-third of total UK pension fund assets.
Some 56% of defined contribution (DC) asset managers do not believe they will have transaction cost information in time for pension funds' March year-end statements, according to Lane Clark & Peacock (LCP) research.
NEST has appointed Clive Elphick, Martin Turner, Mutaz Qubbaj and Chris Hitchen as trustee members of its reshaped board.
Most people want to avoid investing in projects that contribute to climate change, and would consider moving to another less-exposed provider, according to a survey commissioned by ClientEarth.
Just Group has acquired a 75% stake in the holding company of Corinthian Pension Consulting in a bid to strengthen its professional defined benefit (DB) advisory services.