Legal & General Investment Management (LGIM), one of Europe’s biggest asset managers, has written to the CEs of some of the world’s top companies calling for more action on female representation on boards, gender pay gaps and climate change. LGIM, the fund arm of insurer Legal & General, which manages nearly £1-trillion in assets, has taken a lead in improving corporate governance and its voting intentions are keenly watched, particularly by major corporations, in which it is often a leading shareholder. In a shot across the bows for a number of companies, LGIM said it would vote against British companies where women did not represent at least a quarter of the board, and wanted a full breakdown of any gender pay gap and plans to close it. "The vast majority of companies are making significant progress – we simply believe there is more to be done," Sacha Sadan, director of corporate governance at LGIM, said. The company also said boards should consider creating an advisory committee ...
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