MSCI to Explore Strategic Alternatives for Institutional Shareholder
ROCKVILLE, Md. -- October 31, 2013
Institutional Shareholder Services Inc. (“ISS”), a leading provider of
corporate governance solutions to the global financial community, announced
today that the Board of Directors of its parent company, MSCI Inc.
(NYSE:MSCI), has authorized the exploration of strategic alternatives
regarding ISS. The announcement represents the start of a process that may
eventually lead to a full separation of ISS from MSCI.
“The senior ISS management team is very supportive of MSCI’s decision and
confident about the future prospects of the business,” said ISS President Gary
Retelny. “Over our 27 year history, ISS has maintained an unwavering focus on
providing clients with leading corporate governance products and solutions
that help them manage and mitigate governance risk. I expect the current ISS
management team to remain in place and fully dedicated to the business. As we
move forward, our mission remains the same: to provide unbiased governance
advice to the global institutional investor community and tools for
corporations to assist them with their governance needs,” added Mr. Retelny.
ISS has launched new products, most notably executive compensation data and
analytics and QuickScore™, strengthened its senior management team, grown its
sales organization, reached out to new clients, and invested significantly in
its technology platform and client service. The company, which has recently
seen record high client retention rates, is also poised to capitalize on the
growing demand for its data from front-office portfolio managers and
corporations who are focused on corporate governance risk mitigation as a
shareholder-value enhancing measure.
There can be no assurance that the process of exploring strategic alternatives
will result in a transaction or that any transaction will ultimately be
consummated. ISS does not expect MSCI to disclose further developments with
respect to the process unless and until a definitive decision is reached with
respect to a specific transaction or the process of exploration is otherwise
terminated or concluded. Morgan Stanley is serving as financial advisor to
MSCI and Davis Polk is serving as legal advisor.
ISS, founded in 1985 as Institutional Shareholder Services Inc., is the
world's leading provider of proxy advisory and corporate governance solutions
to financial market participants. ISS' services include objective proxy
research and analysis, end-to-end proxy voting and distribution solutions,
turnkey securities class-action claims management, and reliable governance
data and modeling tools. Clients rely on ISS' expertise to help them make
informed corporate governance decisions. ISS is located in financial centers
worldwide and is a subsidiary of MSCI Inc., a leading provider of investment
decision support tools to investors globally.
Institutional Shareholder Services Inc.
Nancy Adler, Head of Marketing
MBS Value Partners
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