Egan-Jones Proxy Services isn't going it alone anymore.
The Haverford, Pa.-based firm formed an alliance with Pensions & Investment Research Consultants Ltd., London, to provide Egan-Jones' U.S. clients with corporate-governance research, including proxy-voting recommendations, for U.K. and continental European companies. PIRC might also cover Australian and emerging-markets companies for Egan-Jones, although the two firms haven't made a decision, said Kent Hughes, Egan-Jones managing director, and Alan MacDougall, PIRC managing director.
Egan-Jones will cover international companies that PIRC doesn't cover, Mr. Hughes added.
"We needed much better international coverage than we had," said Mr. Hughes. PIRC will cover any European company in Egan-Jones clients' portfolios, Mr. Hughes added.
PIRC's "product is compatible with our own in terms of recommendations," Mr. Hughes said. The two firms have similar views "on key issues: board accountability, audit issues and shareholder rights," said Mr. MacDougall.
PIRC isn't affiliated with Pensions & Investments' publications.
