Glass Lewis

Glass, Lewis & Co. is an American proxy advisory services company. Glass Lewis provides governance services that support engagement among institutional investors and corporations through its research, proxy vote management and technology platforms. Glass Lewis helps institutional investors make voting decisions by researching governance, business, legal, political and accounting risks. Glass Lewis currently has approximately 37% of the market for proxy advisory services. [2]

Glass, Lewis & Co.
TypePrivate
IndustryProxy Advisory
Founded2003 (2003)
Headquarters
1 Sansome Street
San Francisco, California
,
United States
Area served
Worldwide
Key people
Katherine Rabin, CEO,
Kevin Cameron, Co-founder
ServicesProxy research and voting solutions; M&A and other financial transaction research; portfolio risk monitoring; client, management and regulatory reporting; class-action settlements; Share Recall support
Number of employees
360 [1]
SubsidiariesGlass Lewis Europe Ltd, IVOX Glass Lewis, CGI Glass Lewis, Meetyl, Washington Analysis
Websitewww.glasslewis.com

Founded in 2003, Glass Lewis is headquartered in San Francisco and has offices in New York, Washington DC, Kansas City, Ireland, Germany, and Australia.[3]

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[4] by Institutional Investor magazine, Washington Analysis anticipates and analyzes the impact of political, legislative and regulatory developments on the financial markets.

In June 2015, Glass Lewis acquired IVOX GmbH, Germany’s leading independent provider of proxy advisory and governance services for institutional investors. [5]

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, an employee of the Milk Truck food truck, tweeted "Shout out to the good people of Glass, Lewis & Co. for placing a $170 order and not leaving a tip."[6] Citing demands from a Glass Lewis representative, O'Connor's employer promptly fired him in response. [7] 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. [8]

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 Milk Truck.[9]

Notable Policies

Glass Lewis has stated that it will use its shareholder proxy to vote against boards of directors that are not adequately diverse.[10][11]

References
  1. "About Glass, Lewis & Co". Glass, Lewis & Co. Retrieved 2015-10-13. employee count at Glass, Lewis & Co.'s website
  2. "Issue - Glass Lewis". execcomp.org.
  3. "About Glass Lewis". Glass Lewis.
  4. "Instututional Investor Leading Analysts". Institutional Investor. Retrieved 2012-04-05.
  5. "Archived copy". Archived from the original on 2013-12-01. Retrieved 2015-10-13.CS1 maint: archived copy as title (link)
  6. Ortiz, Erik. "NYC food truck fires worker after tip-shaming Wall Street firm on Twitter". nydailynews.com.
  7. "Meet Glass, Lewis and Co., the company that got a food truck employee fired for offending them on Twitter / Boing Boing". 30 July 2013.
  8. Lewis, Glass (July 24, 2013). "@milktrucknyc We appreciate it, and look forward to doing business with you again!".
  9. "Archived copy". Archived from the original on 2015-05-16. Retrieved 2014-10-24.CS1 maint: archived copy as title (link)
  10. "Glass Lewis 2018 Proxy Paper Guidelines" (PDF).
  11. Weinbar, Sharon. "How big money can drive diversity in venture capital – TechCrunch". techcrunch.com. Retrieved 30 March 2018.
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