New blood at Wall Street shakes up the old guard
Mutual fund firms support investor challenges to companies on environmental, social and governance issues
03 June 2021 - 16:33
Boston/New York — A new generation of executives at the world’s biggest asset managers is helping to drive an uprising against Corporate America that environmental and social justice activists have long campaigned for.
The big mutual fund firms, whose stock holdings amount to trillions of dollars, used to be loyal members of the corporate establishment. They cast their votes at shareholder meetings largely as instructed by the management of companies in their portfolios, on issues ranging from CEO pay to carbon emission reporting. They rarely discussed their decisions publicly...
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