In today’s briefing:
- Keppel: Strategic Transformation to Asset Manager (Report 3)
- Concurrent Directorship Issue Calls into Question Effectiveness of Nominating Committee
Keppel: Strategic Transformation to Asset Manager (Report 3)
- This is the third report issued by CML on Keppel’s transformation to a global asset manager per its Vision 2030.
- CML has earlier issued two reports on this subject. The first examines the lack of disclosure by Keppel on critical information and data pertaining to its asset management business.
- This is disappointing as Keppel is almost halfway to its fund under management (‘FUM”) target of S$200bn, and we include peers which are similar in size.
Concurrent Directorship Issue Calls into Question Effectiveness of Nominating Committee
- The limit is to serve on the boards of two companies concurrently in order to preview the agenda for the monthly board meetings in advance.
- There may be challenges to the effectiveness of the nominating committee of a company that nominates a candidate to serve on the board of directors of three or more companies.
- With the growing demand for female outside board members, it’s hoped that active investment managers will pay attention to the issue of concurrent board membership and make a clear statement.
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