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December 03, 2010
Another Merger for The Corporate Library
    by Robert Kropp

The Corporate Library and GovernanceMetrics International follow July merger by merging with Audit Integrity, another corporate governance research firm.


When Cary Krosinsky of Trucost spoke with SocialFunds.com in June, in the aftermath of the Gulf of Mexico oil spill disaster, he suggested that BP—which is headquartered in the UK—might not have been in the portfolios of so many sustainable investors if The Corporate Library included companies outside the US in its analyses of corporate governance.

Krosinsky got his wish in July, when The Corporate Library merged with
GovernanceMetrics International (GMI), another firm whose corporate governance research and ratings include global corporations in 24 developed and 21 emerging markets.

Now, in a continuation of the years-long trend of mergers of sustainable investment research firms, The Corporate Library and GMI have announced a merger with
Audit Integrity, whose quantitative forensic analysis of corporate behavior rates the integrity of nearly 20,000 public companies in North American and Europe.

The combined firm, which will operate under the GovernanceMetrics International name, "creates a unique pairing of proprietary governance data and research with highly sophisticated analytical capabilities to serve all key markets," according to a
FAQ posted on The Corporate Library's website. The combined firm will maintain offices in New York City, Portland, Maine, and Southern California.

Jack Zwingli, former CEO of Audit Integrity, will become CEO of the combined firm, while Richard A. Bennett, former CEO of The Corporate Library, will assume the role of Executive Chairman.

The " introduction of an integrated platform and a single governance rating (will be) forthcoming on July 1, 2011," according to a
blog post at The Corporate Library. "The single rating will capture each of the three predecessor firms' unique approaches to evaluating governance risk, and the integrated platform will enable a modular approach to product subscriptions."

Responding to the merger, Anne Sheehan, Director of Corporate Governance for the
California State Teachers' Retirement System (CalSTRS), the second-largest US public pension fund with $139 billion in assets under management, stated, "These three companies have been pioneers in providing important and meaningful governance research. As a client of all three firms, we look forward to the next generation of services the newly combined organization will now be able to provide."

 

 
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