Asset manager to target directors in businesses where women are under-represented
Columbia Threadneedle Investments, the $482bn asset manager, is adding to pressure on US companies to improve board diversity by targeting directors in businesses where women are under-represented.
The group, owned by US financial giant Ameriprise, has put in place a policy by which it refuses to support the re-election of committee chairs, who are charged with hiring new directors, where women account for less than 15 per cent of board members.
The move is a strong signal that investor concern about diversity is spreading to the US from Europe, where shareholders have been pushing for a greater mix on boards for several years.
Iain Richards, head of governance and responsible investment at Columbia Threadneedle, said the US had “some catching up to do”.
www.ft.com
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