Research by Lucian A. Bebchuk, Harvard Law School, and Scott Hirst, Boston University School of Law, indicates three key index fund advisors could cast 34% of votes in the next decade at S&P 500 companies, and about 41% of votes at S&P 500 companies in two decades. The key index fund managers are BlackRock, Vanguard,…
Category: blackrock
Shareholder activism is on the rise, but companies are fighting back – CNN
VEA Vice Chair Nell Minow is quoted in a CNN story about shareholder activism and the way corporate executives are pushing back, including the fake front groups ACCF and Main Street Investors Coalition. Leveraging shareholder votes for environmental and social ends isn’t new, but such resolutions have been on the rise in recent years. Shareholders…
Goldman Board Goes On Female Hiring Spree, Leaves Old-Boy Era Behind – TheStreet
The boardroom of Goldman Sachs Group Inc. (GS) is finally catching up with the #metoo era.The Wall Street firm, historically man-heavy in its executive suite as well as among directors, said Thursday it had named former U.S. Navy Vice Admiral Jan Tighe to its board. Her appointment boosts the share of women on the board to four out of…
BlackRock joins with Wespath to widen its low-carbon strategy | Financial Times
BlackRock has teamed up with a US client to explore fresh ways to invest in the low-carbon economy as fund management groups hunt for opportunities that arise from the shift to sustainable energy use.<P><P>The world’s largest asset manager with $6.3tn of assets, and Wespath Benefits and Investments, which manages $23bn on behalf of the United…
Shareholders Bring Gun Safety Issues to the Boardroom
The post-Parkland move to bring the United States to the sensible gun safety rules adopted by other countries has now moved from protests and politics to where the money is, the corporate executives and directors who run the companies that manufacture and sell guns and determine the millions of dollars the NRA spends on political…
How Long-Term Investors Influence Corporate Behavior
Annotated opening paragraphs of an article on the impact of long-term investors in the MITSloan journal: In his recent letter to CEOs, Larry Fink, CEO and chairman of the mutual fund giant BlackRock Inc., based in New York City, repeated his call for organizations to share their strategies for creating sustainable value. He also added…
Blackrock: Here is What We Want to Know about Human Capital Management from Directors and Executives
Blackrock CEO Larry Fink wrote: Companies must ask themselves: What role do we play in the community? Are we working to create a diverse workforce? Are we adapting to technological change? Are we providing the retraining and opportunities that our employees and our business will need to adjust to an increasingly automated world? Now we…
BlackRock turns up the pressure on gun makers – Mar. 2, 2018
BlackRock, calling the issue of gun manufacture and sales one of “tremendous urgency,” is engaging with its portfolio companies: It said it has already had “constructive discussions” with some of the companies. It plans to ask gun makers how they’ll deal with the reputation and legal risks associated with manufacturing civilian firearms, and if they…
World’s largest money manager to CEOs: You must do good for society – The Washington Post
VEA Vice Chair Nell Minow is quoted on Blackrock’s letter to portfolio companies about their increasing focus on ESG: “We used to talk about ‘social investing,’ which made it sound like we were talking about a debutante cotillion,” said Nell Minow, vice chair of the governance consulting firm ValueEdge Advisors. Now, Minow said, as such issues…
BlackRock Wields Its $6 Trillion Club to Combat Climate Risks – Bloomberg
BlackRock Inc., the world’s biggest asset manager, is telling companies that now is the time to start reporting clear information on climate risk to their businesses.The firm, which oversees almost $6 trillion in assets, sent letters from its corporate-governance team to about 120 companies this week, urging them to report climate dangers in line with…
