The Strategic IRO: Changing Dynamics of Shareholder Outreach

November 19, 2018 05:30 PM EST
Domain 7:
Strategic Counsel and Collaboration
Domain 10:
Corporate Governance

5:30 pm Registration
6:00 pm Program
Cocktails & Networking

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In contrast to the headline trend of active to passive, a rising tide of progressive investment philosophies is expanding the role of activism. In 2018 YTD, activists initiated 145 campaigns, deploying an all-time high $40 billion of capital. Both active and passive investors underpin this trend. There are 112 full-time activist funds globally, but 662 investors made public demands in 2017; only 54 of these investors use activism as their main strategy. With the amplification of active portfolio management across the spectrum of active and passive funds, the need for proactive, strategic shareholder engagement is paramount.

The Strategic IRO will develop a framework to address strategy, governance, social, environmental and other advancing agendas throughout the investment community.

Panelists

  • Jim Rossman, Managing Director, Shareholder Advisory, Lazard
    Jim Rossman is the Head of Shareholder Advisory at Lazard and advises clients in connection with preparing for and responding to shareholder activism. Jim joined Lazard in 2003 and has over 25 years of experience as both a lawyer and investment banker. Jim is the Chairman of the Board of Trustees for the Brooklyn Historical Society; serves on the Board of Advisors of the Institute for Law and Economics at the University of Pennsylvania; and serves on the Corporate Governance Forum Advisory Council for the Harvard Roundtable on Corporate Governance. Jim earned a B.A. from Kenyon College, an M.A. from The University of Virginia, and a J.D. from New York University School of Law.

    Co-author: Quarterly Review of Shareholder Activism - Q2 2018
  • Jim Tierney, Chief Investment Officer of Concentrated US Growth, AllianceBernstein
    James T. Tierney, Jr. is Chief Investment Officer of Concentrated US Growth. Prior to joining AB in December 2013, he was CIO at W.P. Stewart & Co. Tierney began his career in 1988 in equity research at J.P. Morgan Investment Management, where he analyzed entertainment, healthcare and finance companies. He left J.P. Morgan in 1990 to pursue an MBA and returned in 1992 as a senior analyst covering energy, transportation, media and entertainment. Tierney joined W.P. Stewart in 2000. He holds a BS in finance from Providence College and an MBA from Columbia Business School at Columbia University.

    Co-author: The Megaphone Effect Amplifying The Impact Of Engagement With Management and Quality Control: Three Questions for Stocks in a Changing World
  • Susan Kendall, Head of Investor Relations, Citi
    Susan Kendall is the Head of Investor Relations at Citigroup Inc. Prior to joining Citigroup in 2009, Susan was Senior Vice President, Investor Relations at Lehman Brothers Inc. From 2005 to 2008, Susan was a senior banker in equity capital markets, responsible for structuring and executing equity transactions for corporate clients. She began her career at Lehman Brothers in 1998 in investment banking, where she advised clients on M&A and capital raising activities. Susan received her MBA from The University of Chicago Graduate School of Business and a BA from Duke University.

Moderator

  • Alexandra Deignan, Head of Investor Relations, Lazard
    Alexandra Deignan joined Lazard Ltd in 2017 as the Head of Investor Relations with more than 20 years of experience in investor relations and investment banking. Prior to Lazard, she initiated and led Investor Relations programs for Schnitzer Steel Industries from 2010-2017 and Curtiss-Wright from 2003-2010. Previously she was in the Investment Banking division of Salomon Smith Barney where she advised global clients on a range of capital markets financing and M&A activities. Alexandra received her MBA from New York University Stern School of Business and Bachelors in Journalism from The University of Texas at Austin.

Key discussion topics:

  • How should companies assess vulnerabilities from an investment perspective?
  • What are the new trends in evaluating current shareholder profile, such as index concentration, stock lending and part-time activism?
  • How should IROs tailor engagement tactics — materials, timing, participants — for different types of investors, such as index, active and quantitative managers?
  • How do IROs strike the right balance between “self-directed” outreach and sell-side roadshows?
  • Why should IROs integrate ESG issues into shareholder engagement?
  • How should IROs incorporate governance outreach and consider direct engagement between the Board of Directors and shareholders?
  • How should companies think about transitioning traditional IR discussions to more meaningful conversations about long-term strategic growth and corporate vision?

By addressing these topics, our panelists will accentuate best practices and practical solutions to further the quality of dialogue between corporations and their shareholders. Through this engagement, IROs will be better-equipped to foster strategic dialogue across the investment landscape.

This event is complimentary for NIRI New York members and $75 for non-members. Advance registration is required.

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