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Authors

  • November 16, 2018
    Stewardship
    Supply Chain And Human Rights Risk Management: Blockchain And Emerging Technology
    Leon Kamhi
  • November 14, 2018
    Stewardship
    Companies Must Make Social License A Focus
    Leon Kamhi
  • November 8, 2018
    Stewardship
    How Cyber-attacks Will Change The Face Of Company Boards
    Leon Kamhi
  • September 5, 2017
    Stewardship
    Sports Direct AGM
    Leon Kamhi
    Ahead of the Sports Direct AGM tomorrow, Leon Kamhi, Head of Responsibility at Hermes Investment Management, assesses the company’s progress and highlights areas for improvement. “We welcome a number of positive changes that have taken place since the 2016 AGM. This includes the appointment of Mike Ashley as CEO, Jon Kempster as a permanent CFO, two independent directors and a Workers’ Representative who will attend board meetings.However, we are greatly concerned about the lack of one to one engagement the company has had with shareholders following the publication and implementation of the board’s Engagement Statement to investors, analysts and the media. It is our view that the absence of face to face engagement falls short of best practice and creates a multitude of missed opportunities to build positive and constructive relationships with interested third party minority investors.
  • November 29, 2016
    Stewardship
    Hermes responds to the UK Government’s paper on corporate governance reform
    Leon Kamhi
    Leon Kamhi, Head of Responsibility at Hermes Investment Management, comments on today’s publication, Corporate governance reform, by the UK Government: “The additional measures proposed today by the Government look set to strengthen investors’ hand on pay, and it is now incumbent on both companies and us as investors to respond to the challenge of excessive executive remuneration." “Whilst it is not a panacea and the appropriate ratio will differ from company to company, increased transparency provided by the publication of the CEO-to-median-employee pay ratio is to be welcomed as it puts pressure on boards to explain the rationale behind the level of executive remuneration and disparities in pay across the organisation." “We strongly believe that boards of both public and private companies need to be more diverse and recognise the critical contribution that employees make to the success of every company. Whilst we would have liked the Government to go further and propose elected employees on boards, we are encouraged to see recognition for the clear benefits that are gleaned from greater employee voice in a company’s governance."
  • Barclays
    Leon Kamhi
    In the years since the financial crisis, the UK’s largest banks have experienced successive misconduct problems and Barclays has been no exception. These scandals have included manipulating the global benchmark interbank exchange rate LIBOR, mis-selling protection insurance (PPI) and relaxing investigatory requirements, which safeguard against fraud and money laundering for ultra=high-net-worth clients, resulting in multiple fines from the UK and US regulators.