Source: RiskMetrics Group
RiskMetrics Group, the leading financial risk management firm, announced today that it has completed its acquisition of Institutional Shareholder Services (ISS).
ISS is the world's leading provider of corporate governance and proxy voting solutions to the institutional investor community. Financial terms of the deal were not disclosed.
"This acquisition reflects our commitment to building the world's leading risk company," said Ethan Berman, Chief Executive Officer of RiskMetrics Group. "While RiskMetrics has increasingly connected communities of investors around financial risk, ISS' 20-year leadership in helping clients manage corporate governance and fiduciary risk represents a perfect fit for RiskMetrics Group as we grow."
CEO Ethan Berman will continue to lead RiskMetrics Group, while John M Connolly will remain CEO of ISS and will assume the additional responsibility of President of RiskMetrics Group.
"We are already seeing the potential for delivering significant client value through joint product initiatives that are currently underway in the area of environmental, social and governance data, research analytics and modeling," said Connolly. "Independently, RiskMetrics and ISS have demonstrated an acute understanding of client needs. Together, our ability to meet those needs is increased exponentially."