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Asset Managers Bulk up Governance Staff as Regulators Focus on Shareholder Rights

Asset managers are expanding their corporate governance teams in response to increased regulatory and political scrutiny of the relationship between companies and their shareholders, according to a Financial Times report. The FT report specifically pointed to British Prime Minister Theresa May’s initiative to reform corporate governance in the UK, a move aimed at benefiting shareholders. The European Union commission’s shareholder rights directive is similarly expected to strengthen shareholders’ rights, and to require more disclosures from large investors on how they engage with companies although its implementation may be under threat from Brexit. Companies that reported increases in their corporate governance ranks include BlackRock, Vanguard and State Street.