Florida State Board lists finalists for corporate governance, proxy-voting services

Florida State Board of Administration, Tallahassee, named finalists in its search for corporate governance research and proxy-voting agent services, and for specialized governance services, said John Kuczwanski, communications manager of the FSBA.

Broadridge Financial Solutions, Glass Lewis, Institutional Shareholder Services and Manifest Information Services are finalists for both corporate governance research and proxy-voting agent services.

FactSet Research Systems, Hermes, IW Financial, MSCI, Proxy Insight and Sustainalytics are the finalists for specialized governance services.

Glass Lewis and ISS are incumbents in corporate governance research; ISS is the incumbent in proxy-voting agent services. The current providers of specialized governance services are FactSet, Hermes, IW Financial, MSCI and Sustainalytics.

The FSBA — which oversees $176 billion in total assets, including the $141.1 billion Florida Retirement System defined benefit fund — could hire more than one firm for each of the two sets of services.

The FSBA issued an invitation to negotiate for the services in February.

FSBA initiated the search because the contracts of Glass Lewis and ISS for corporate governance research and proxy-agent voting services expire June 30.

Contracts for the other services have “varying expiration dates” and can be amended, extended or set up as new contracts, Mr. Kuczwanski said in a follow-up e-mail

The board expects to make a decision May 2.