Illinois State Board of Investment, Chicago, hired Glass Lewis & Co. for proxy-voting advisory services for domestic and international holdings, said William R. Atwood, executive director of the $14.8 billion board.
Institutional Shareholder Services Inc., the incumbent, was the other finalist in a search initiated int January when ISBI issued an RFP.
Glass Lewis will also provide lists of forbidden and scrutinized companies in Sudan and Iran for potential divestment, a service ISS had provided, Mr. Atwood said.
Lower fees was the key reason the board chose Glass Lewis, Mr. Atwood said.
No consultant was used.