Glass Lewis

Glass, Lewis & Co. is one of two prominent proxy advisory services in the world, the other being Institutional Shareholder Services ("ISS"). Glass Lewis provides governance services that support engagement among institutional investors and corporations through its research, proxy vote management and technology platforms. Glass Lewis empowers institutional investors that collectively manage $20 trillion to make sound voting decisions by uncovering and assessing governance, business, legal, political and accounting risks at issuers domiciled in 100 countries. Clients include Putnam Funds, Wellington Management Company and the Australian Council for Superannuation Investors (“ACSI”).

Founded in 2003, Glass Lewis is headquartered in San Francisco and has offices in New York, Washington DC, Ireland and Australia.[1]

In September 2006, Glass Lewis acquired Sydney-based proxy advisory firm Corporate Governance International, which then became known as CGI Glass Lewis. In November 2008, Glass Lewis acquired Washington Analysis, a political and economic advisory firm based in Washington, D.C. Founded in 1973 and rated among the Best Analysts of the Year[2] by Institutional Investor magazine, Washington Analysis anticipates and analyzes the impact of political, legislative and regulatory developments on the financial markets. The firm’s senior analysts focus on defense, energy, financial services, healthcare, media and telecommunications, as well as geopolitics and political economics, including fiscal, monetary and trade policy.

In September 2014, Glass Lewis acquired Meetyl, a technology company that facilitates private, secure, direct engagement between investors and issuers. Founded in 2012, Meetyl’s web-based platform enables professionals from buy-side firms and public companies to efficiently schedule and manage face-to-face meetings, free from the inefficiencies and conflicts that often emerge when third parties are involved in the process

Glass Lewis is owned by the Ontario Teachers' Pension Plan, and the Alberta Investment Management Corp.

Public Controversies

Firing Scandal

On July 22, 2013, reportedly after servicing a large group of Glass Lewis employees based in the New York City home office, Brendon O'Connor, a food truck vender, tweeted "Shout out to the good people of Glass, Lewis & Co. for placing a $170 order and not leaving a tip."[3] Citing demands from a Glass Lewis representative, O'Connor's employer promptly fired him in response. [4] The official Glass Lewis twitter page, in response to confirmation of O'Connor's termination, then publicly thanked O'Connor's former employer for firing him. [5]

A large and multinational public backlash then ensued with, at some point, as many as 10 statements per second being posted on Twitter demanding either a boycott of Glass Lewis or O'Connor's former employer.[6]

References

  1. ↑ About Glass Lewis http://www.glasslewis.com/about-glass-lewis/
  2. ↑ "Instututional Investor Leading Analysts". Institutional Investor. Retrieved 2012-04-05.
  3. ↑ http://www.nydailynews.com/new-york/nyc-food-truck-fires-worker-gripes-customer-tips-article-1.1414093
  4. ↑ http://boingboing.net/2013/07/30/meet-glass-lewis-and-co-the.html
  5. ↑ https://twitter.com/GlassLewis/status/360120598283825152
  6. ↑ http://gothamist.com/2013/07/30/milk_truck_owner_fired_employee_for.php

External links