Proxy Governance, Inc.
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Proxy Governance, Inc., was one of four prominent independent proxy advisory services (
proxy firm A proxy firm (also a proxy advisor, proxy adviser, proxy voting agency, vote service provider or shareholder voting research provider or proxy voting advisory businesses (PVABs)) provides services to shareholders (in most cases an institutional inv ...
) in the United States. (The others are Glass Lewis & Co., Egan-Jones Proxy Services and Institutional Shareholder Services, Inc.) As such, it provided
proxy voting Proxy voting is a form of voting whereby a member of a decision-making body may delegate their voting power to a representative, to enable a vote in absence. The representative may be another member of the same body, or external. A person so ...
recommendations on U.S. and non-U.S. publicly reporting companies. Additionally, it provided an online voting platform that permits clients to vote their shares. The company was often quoted in the media when they issue recommendations to shareholders during high-profile proxy fights, and in cases involving proposed
mergers and acquisitions Mergers and acquisitions (M&A) are business transactions in which the ownership of a company, business organization, or one of their operating units is transferred to or consolidated with another entity. They may happen through direct absorpt ...
.


Demise

In February 2011, PGI was acquired by
Ernst & Young EY, previously known as Ernst & Young, is a multinational corporation, multinational professional services partnership, network based in London, United Kingdom. Along with Deloitte, KPMG and PwC, it is one of the Big Four accounting firms, Big F ...
. Prior to the acquisition, the firm had transferred their client base to
Glass Lewis Glass, Lewis & Co. (Glass Lewis) is a major American proxy advisory services company. As of spring 2019, Glass Lewis controlled 28% of the proxy advisory market for mutual funds; this makes it the second-largest company in the market behind Inst ...
, and ceased operations.


References


External links

* {{official website, http://www.proxygovernance.com Defunct companies based in Virginia Proxy firms