Skip to content
Subscriber Only

Proxy Firm Backs One Elliott Nominee in Alliance Trust Battle

A proxy voting company is backing one of three directors that Paul Singer’s Elliott Advisors wants installed on Alliance Trust Plc’s board, the third investor group this week to weigh in on the hedge fund’s battle to shake up the 127-year-old British money manager.

Glass, Lewis & Co. advised shareholders to vote in favor of Peter Chambers, the former chief executive officer of Legal & General Investment Management, according to a report sent to clients. The San Francisco-based firm advised investors vote against Elliott’s other nominees -- Anthony Brooke and Rory Macnamara -- citing “governance issues.”