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Governance Agenda
Presentations from this day's talks are available. Click Download This Presentation under the title of the presentation you'd like to download.
| 8:30 - 9:15 |
Main Breakfast -or-
Special SCAS Session – Breakfast
Increasing Role European Institutional Investors are Playing in Securities Class Actions
David Paterson, National Association of Pension Funds (NAPF)
Frédérik-Karel Canoy, Association des Actionnaires Actifs (EADS)
Stuart Grant, Grant & Eisenhofer
Guy Jubb, Standard Life
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| 9:15 - 9:30 |
Welcoming Remarks
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Rich Leggett, RiskMetrics Group |
| 9:30 - 10:30 |
Keynote Speaker
Michael Treschow, Chairman of Ericsson, Chairman of the Confederation of Swedish Enterprise, Non-Executive Director of Unilever |
| 10:30 -11:00 |
Morning Tea and Coffee |
| 11:00 -12:00 |
Engaged Share Ownership in Europe
Engaged share ownership ranges from collaborative engagement at one end of the spectrum through to confrontational activism, at the other, as situations at Pernod Ricard and ABN AMRO have demonstrated. Panelists discuss the challenges of being an engaged shareowner and will share their experiences with regard to State protectionism and engaging with company management.
David Paterson, National Association of Pension Funds (NAPF)
Chris Young, RiskMetrics Group
William Claxton-Smith, Insight Investment
Benoit d'Angelin, Centaurus Capital Limited
Colin Melvin, Hermes Equity Ownership Services Ltd |
| 12:00 - 13:00 |
The Intersection of Portfolio Risk Management and the Environment
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Investors are increasingly aware of risk management issues such as climate change, which highlight the importance of corporate responsibility. Our panel will discuss the approach to broadening the governance agenda to include social and environmental factors and the extent to which ESG factors can impact the valuation of companies.
Doug Cogan, RiskMetrics Group
Stewart Armer, Head of Sustainable and Responsible Investment, Fortis Investments
David Diamond, Credit Agricole Asset Management
Rob Lake, ABP
Nada Villermain-Lecolier, Fonds de Reserve pour les Retraites (FRR) |
| 13:00 – 14:00 |
Lunch |
| 14:00 - 15:00 |
Ownership and Control
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Last year, the European Commission sponsored research on the proportionality between ownership and control, which ISS Governance was mandated to perform. The results are now public and the time for decisions has come. We will highlight the main results of the proportionality study as the factual basis for a debate between panelists. How are control-enhancing mechanisms used by issuers and how are they perceived by investors. What are the perceived gains from promoting takeovers and weakening controlling minority shareholders? What are the next steps, and can a consensus be reached by all parties? These questions and many more will be acutely relevant in the context of Commissioner McCreevy's possible recommendations before year end.
Jean-Nicolas Caprasse, RiskMetrics Group Europe
Antonio Borges, Goldman Sachs
Anne Leppälä-Nilsson, Kesko Corporation and the Finnish Corporate Governance Working Party
Peter Montagnon, Association of British Insurers
Christian Strenger, DWS Investment GmbH |
| 15:00 - 15:45 |
The Bridge from Governance to Trading Risk
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Does corporate governance play a role in trading? Do poorly governed companies increase your portfolio risk? Christopher C. Finger, Head of Research for RiskMetrics Group, will outline his research methodology and demonstrates the links between corporate governance and trading risk.
John Deosaran, RiskMetrics Group
Christopher C. Finger, RiskMetrics Group
Marc Siegel, RiskMetrics Group |
| 15:45 - 16:15 |
Afternoon Coffee |
| 16:15 - 17:15 |
Drivers for Change in Global Remuneration
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This seminar will provide a discussion forum covering the globalisation of executive pay practices. Specific topics include: To what extent does US executive pay have an impact on executive pay in Europe? Is greater transparency fueling executive pay inflation? To what extent does a global executive talent pool truly exist? To what extent has the introduction of the advisory vote on the remuneration report in various European countries informed current debates in the US over a shareholder ‘Say on Pay’? How should investors measure performance when assessing remuneration?
Martha Carter, Ph.D., RiskMetrics Group
Jella Benner-Heinacher, Managing Director, Deutsche Schutzvereinigung für Wertpapierbesitz (DSW)
Hye-Won Choi, TIAA-CREF
Carl Rosen, AP2
Carola van Lamoen, Robeco
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| 17:15 - 17:30 |
Closing Remarks
Ethan Berman, RiskMetrics Group |
| 17:30 - 20:00 |
Reception |
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