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ECONOMY

ISS acquires ESG research firm IW Financial

Institutional Shareholder Services, a corporate governance and responsible investment firm, has acquired U.S.-based IW Financial to help meet investors' growing demands for environmental, social and governance data and insights.

IW Financial offers ESG research, consulting and portfolio management solutions, ISS said in a news release.

Terms of the deal could not be learned by press time.

IW Financial's screens, methodologies and other solutions will be integrated into ISS' ESG arm, ISS-Ethix. Sam Pierce, CEO at IW Financial, will continue to work with the combined group and will lead the development of an environmental and social ratings methodology, the news release said. Details about other personnel could not be learned by press time.

An ISS spokesman declined to comment further.