Founded in 1995, Proxinvest is an independent proxy firm supporting the engagement and proxy analysis processes of investors. Proxinvest mission is to analyse corporate governance practices and resolutions proposed at general meetings of listed firms.

Proxinvest main services are :

  • ​Proxy reports
  • Definition and monitoring of client customized voting guidelines
  • Corporate Governance Data and Rating
  • Thematic research
  • Engagement support

Proxinvest has been a pioneer and champion of good corporate governance and has grown into a recognised expert in the field.

Proxinvest is independently-owned and only works for investors : Proxinvest does not provide consulting services to the companies it covers, mitigating related risks to its clients and ensuring the independence of our analysis. As a result Proxinvest is able to take a robust, independent, engaged and unconflicted view of the companies in which our clients invest.

As Managing Partner of Expert Corprate Governance Service Ltd (ECGS), Proxinvest has built a large network of corporate governance experts to support clients in corporate governance analysis worldwide. 

Expert Corporate Governance Service (ECGS)

Unibail-Rodamco-Westfield - EGM 10 November 2020

On 16/09/2020, Unibail-Rodamco-Westfield ("URW") announced its "RESET" plan, the main objective of which is to reduce debt by more than €9 billion, notably through a €3.5 billion capital increase, fully guaranteed, which would be used to immediately reduce debt. This Meeting is convened to approve this capital increase.  On 15/10/2020, a consortium of shareholders consisting of Flagship Retail Investment (an investment vehicle managed by Aermont Capital Management, whose managing partner is Léon Bressler, former Chairman and CEO of Unibail) and Rock Investment (a subsidiary of NJJ Holding, Xa...

Jehanne Leroy

Unibail-Rodamco-Westfield SE - Assemblée Générale des actionnaires du 10 Novembre 2020

Le 16/09/2020, Unibail-Rodamco-Westfield (« URW ») a annoncé son plan « RESET », lequel a pour principal objectif un désendettement de plus de 9 Mds€ via notamment une augmentation de capital de 3,5 Mds€ intégralement garantie qui serait utilisé pour réduire immédiatement l’endettement. La présente Assemblée est convoquée afin d’approuver cette augmentation de capital. Le 15/10/2020, un consortium d’actionnaires composé de Flagship Retail Investment (véhicule d’investissement géré par Aermont Capital Management dont le managing partner est Léon Bressler, ancien Président Directeur Général d’U...

Expert Corporate Governance Service (ECGS)

Erste Group Bank - AGM 10 November 2020

General: The AGM is to be held in the form of a virtual AGM in accordance with the Austrian COVID-19 Company Law Act and COVID-19 Company Law Regulation. The physical presence of shareholders or their authorised proxies is not possible. The voting rights may therefore be exercised solely by granting authority to the special proxies designated by the Company. Item 2: On 15 October 2020, the Management Board and the Supervisory Board resolved to adjust the proposal for the appropriation of net profits of the financial year 2019 due to the economic effects of the COVID-19 pandemic. The Boards ar...

Expert Corporate Governance Service (ECGS)

Smiths Group - AGM 16 November 2020

Item 2: Remuneration report We regret that the Board only freezed in monetary value the executive directorsnpension benefits. The Company also announces that the incumbent executives' pension will be reduced and aligned with the wider workforce as recommended by the Investment Association. We regret that no further steps were made or details were provided. However, we recommend approval since the total remuneration is not excessive, the incentive has sufficiently challenging targets and its payouts are well aligned with the group's performance and the remuneration is weighted over rewarding l...

Expert Corporate Governance Service (ECGS)

London Stock Exchange - EGM 03 November 2020

The Board seeks shareholdersnapproval of the disposal of London Stock Exchange Group Holdings Italia S.p.A. to Euronext N.V. In light of the European Commission concerns regarding the Refinitiv takeover, it is in the shareholder interest to approve the proposed disposal of Borsa Italiana. While we note that the price seems low, this deal isconditional on the European Commission clearing of the $27bn deal, which costs £550m as announced. The acquisition of Refinitiv will transform LSEG from a trading platform to a global data provider and create a rival to Bloomberg (which controls a third of t...

Expert Corporate Governance Service (ECGS)

Kering - Assemblée générale des actionnaires du 24 avril 2019

Il convient premièrement de relever que la Société a réalisé d'excellents résultats en 2018, portés notamment par la forte croissance du marché du Luxe. Comme pour l'année précédente, Proxinvest note un manque de contre-pouvoir au sein de la société : nous remarquons le cumul des fonctions de Président du Conseil d'administration et de Directeur Général, ainsi que l'absence d'executive sessions généralisées. Aussi, nous remarquons que la présence de trois censeurs, exerçant chacun des fonctions de direction au sein du Groupe Kering, amoindrit l'efficacité du contrôle de l'action des dirigean...

Expert Corporate Governance Service (ECGS)

Unibail-Rodamco-Westfield - EGM 10 November 2020

On 16/09/2020, Unibail-Rodamco-Westfield ("URW") announced its "RESET" plan, the main objective of which is to reduce debt by more than €9 billion, notably through a €3.5 billion capital increase, fully guaranteed, which would be used to immediately reduce debt. This Meeting is convened to approve this capital increase.  On 15/10/2020, a consortium of shareholders consisting of Flagship Retail Investment (an investment vehicle managed by Aermont Capital Management, whose managing partner is Léon Bressler, former Chairman and CEO of Unibail) and Rock Investment (a subsidiary of NJJ Holding, Xa...

Jehanne Leroy

Unibail-Rodamco-Westfield SE - Assemblée Générale des actionnaires du 10 Novembre 2020

Le 16/09/2020, Unibail-Rodamco-Westfield (« URW ») a annoncé son plan « RESET », lequel a pour principal objectif un désendettement de plus de 9 Mds€ via notamment une augmentation de capital de 3,5 Mds€ intégralement garantie qui serait utilisé pour réduire immédiatement l’endettement. La présente Assemblée est convoquée afin d’approuver cette augmentation de capital. Le 15/10/2020, un consortium d’actionnaires composé de Flagship Retail Investment (véhicule d’investissement géré par Aermont Capital Management dont le managing partner est Léon Bressler, ancien Président Directeur Général d’U...

Expert Corporate Governance Service (ECGS)

Erste Group Bank - AGM 10 November 2020

General: The AGM is to be held in the form of a virtual AGM in accordance with the Austrian COVID-19 Company Law Act and COVID-19 Company Law Regulation. The physical presence of shareholders or their authorised proxies is not possible. The voting rights may therefore be exercised solely by granting authority to the special proxies designated by the Company. Item 2: On 15 October 2020, the Management Board and the Supervisory Board resolved to adjust the proposal for the appropriation of net profits of the financial year 2019 due to the economic effects of the COVID-19 pandemic. The Boards ar...

Expert Corporate Governance Service (ECGS)

Smiths Group - AGM 16 November 2020

Item 2: Remuneration report We regret that the Board only freezed in monetary value the executive directorsnpension benefits. The Company also announces that the incumbent executives' pension will be reduced and aligned with the wider workforce as recommended by the Investment Association. We regret that no further steps were made or details were provided. However, we recommend approval since the total remuneration is not excessive, the incentive has sufficiently challenging targets and its payouts are well aligned with the group's performance and the remuneration is weighted over rewarding l...

Expert Corporate Governance Service (ECGS)

London Stock Exchange - EGM 03 November 2020

The Board seeks shareholdersnapproval of the disposal of London Stock Exchange Group Holdings Italia S.p.A. to Euronext N.V. In light of the European Commission concerns regarding the Refinitiv takeover, it is in the shareholder interest to approve the proposed disposal of Borsa Italiana. While we note that the price seems low, this deal isconditional on the European Commission clearing of the $27bn deal, which costs £550m as announced. The acquisition of Refinitiv will transform LSEG from a trading platform to a global data provider and create a rival to Bloomberg (which controls a third of t...

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