Canadian Institutions Band Together for Better Governance

June 28, 2002 ( - A group comprising some of Canada's biggest pension funds, mutual funds, and money managers has formed the Canadian Coalition for Good Governance to fight for improved governance at Canadian companies.

The coalition members plan a number of initiatives, including:

  • monitoring the composition and performance of boards;
  • insisting that key board committees have a majority of independent outside directors;
  • and developing a common position on acceptable accounting standards.

The coalition’s members include:

  • Altamira Financial Services Ltd.
  • Beutel Goodman & Co.
  • Burgundy Asset Management
  • Franklin Templeton Investments
  • The Investment Counsel Association of Canada
  • Jarislowsky Fraser Ltd.
  • KBSH Capital Management
  • Mackenzie Financial
  • Manulife Financial
  • The Ontario Teachers’ Pension Plan Board and
  • Standard Life

In a news release, Teachers’ said the organization is the brainchild of Stephen Jarislowsky, chairman and chief executive of Jarislowsky Fraser, and Claude Lamoureux, president and chief executive of Teachers’.

Teachers’ noted that recent changes to the Canada Business Corporations Act provide institutional investors with the opportunity to work together as shareholders.