Wisconsin State Investment Board, Madison, is searching for firms to provide proxy-voting and other corporate-governance consulting services for the $70 billion fund. The board could hire different consultants for the different service segments, which include providing proxy analysis and voting, corporate-governance ratings and research, recommending changes to its proxy-voting guidelines, identifying issues and screening holdings for potential focus-list placement, and assisting in posting its proxy votes on the board's website.
Institutional Shareholder Services, which now provides the services, can rebid, said TerriJo Saarela, investor responsibility program manager. Board officials issued the RFP because there are now more firms providing such services than there were when ISS was hired several years ago. Because board officials are willing to unbundle the services, smaller firms will also have a chance to compete, she said.
The RFP is available at www.swib.state.wi.us. Proposals are due Sept. 27, and board officials could make a decision as early as November.