Glass Lewis has appointed Sustainalytics founder Michael Jantzi to its board of directors to boost the company’s strategy to build out from its traditional proxy advice services.
The US-based firm said the move would leverage Jantzi’s experience to support Glass Lewis’ expansion “beyond its core proxy research and voting business”.
Having formed his own research business in 1992, Jantzi expanded it through mergers to create Sustainalytics in 2009. The firm established itself as a leading sustainability data and insights provider and was acquired by fund data and analytics supplier Morningstar in 2020. Jantzi stayed on until July 2022 to help with the post-acquisition transition, before being appointed as an inaugural member of the International Sustainability Standards Board.
Last year, Glass Lewis acquired Stockholm-based Esgaia, which operates an advanced engagement tracking and reporting platform, widely used in Europe to support the stewardship strategies of institutional investors.
“Having Michael join our board will open Glass Lewis up to new channels for growth and help us navigate the myriad of market standards and regulatory frameworks governing our clients,” said Glass Lewis CEO Bob Mann, who worked at Sustainalytics for 15 years, including a chief operating officer.
Jantzi has also served on the board of directors of the Value Reporting Foundation and of the Principles for Responsible Investment.
“I am confident that my experience as an executive and as a director, will help the board steer the firm through today’s increasingly complex investment landscape and changing regulatory environment,” he said.
Glass Lewis and fellow proxy advisor ISS were subject to legal suits brought in Texas and Florida last year over claims relating to use of ESG factors in proxy voting advice to clients. The two firms were also targeted in an executive order issued by the White House in January this year, calling for greater scrutiny of proxy advice.
Glass Lewis is a global provider of independent, intelligence-focused corporate governance, stewardship, and proxy voting solutions, serving more than 1,300 investment managers and pension funds globally.
