GovernanceMetrics International (GMI), the corporate governance research and ratings firm, informs that UBS Investment Bank has purchased a minority stake in the company.
Under the agreement, UBS analysts will have access to GMIs proprietary content and database, enabling them to factor governance ratings into their stock research. UBS will also work with GMI to expand the firms customer base, as well as work jointly on product development and research ideas.
The investment by UBS means that GMI is now backed by a number of the worlds leading financial institutions. Other minority investors in GMI include State Street Global Alliance, a partnership between Boston-based State Street Global Advisors, institutional investment managers, and Dutch ABP, pension funds. Another minority stake is held by Inter-Atlantic Group, a manager of private equity funds focused exclusively on the financial and business services sector.
UBS is always looking for ways to offer our clients access to the most sophisticated and relevant investment information and analytical tools, says Mark Steinert, global head of Equity Research, UBS. Our partnership with GMI allows UBS to introduce first-rate governance research and data to clients, will enable our analysts to incorporate this important metric into a comprehensive coverage offering and will enable the creation of governance friendly structured products.
We believe standards of analysis and due diligence with respect to governance will become increasingly stringent throughout the investment advisory sector, says Julie Hudson, global head of Socially Responsible Investing and Sustainability Research, UBS. GMIs research capabilities address an immediate need in the market, and we are excited to offer their product to our clients.
L.D.