New Partnership Offers Turnkey Proxy Vote Service

September 3, 2003 ( - Institutional investors can now completely outsource their proxy voting process as a result of a newly announced partnership.

According to a news release, joining to form the new proxy service is the IRRC, a corporate governance and social responsibility research and proxy voting service and Glass, Lewis & Co., a proxy analysis and voting recommendations analytical research firm.   The announcement said clients can buy a turnkey services that includes in-depth analysis and case-by-case recommendations on thousands of proxy issues, social issues research, Taft-Hartley services, and complete vote execution, recordkeeping and reporting services.

That turnkey offering is IRRC’s Voting Agency Service, incorporating Glass Lewis recommendations to provide guidance for votes on increasingly complex issues faced by fiduciaries. IRRC also manages the operational end of the process — ensuring compliance with all applicable laws and regulations, according to the announcement.

The Glass Lewis research division, led by Lynn Turner, former chief accountant of the US Securities and Exchange Commission, is comprised of accounting, finance, legal and public policy professionals. Glass Lewis’ provides insights into complex financial and corporate integrity issues, including:

  • quality of the Board of Directors
  • equity-based compensation plans
  • mergers and acquisitions
  • employee stock purchase plans
  • options re-pricing
  • deferred compensation programs.