Our first Chief Executive Ralph Quartano urged Marks & Spencer to do the right thing in 1983, when the company’s board made special loans available to its directors. St Michael, he told them, should be on the side of the angels.
To our mind, good stewardship of assets is – and has always been – a critical component of what it means to be a responsible investor. And armed with our long-standing history of engagement, in 2004 we founded Hermes EOS – a stewardship service that helps clients meet their fiduciary responsibilities more effectively in order to create long-term value for beneficiaries – with a team of six staff.
Today, it boasts one of the largest stewardship resources globally, with $781.4bn in assets under advice. It is now a diverse and multi-lingual team of 32 staff, who work alongside a number of senior advisers.
Hermes EOS is based on the premise that companies with informed and involved shareholders are more likely to achieve superior long-term performance than those without.