Archive
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Governance Matters podcast: Keir Gumbs discusses the impact of AI and the role of the Society for Corporate Governance
We also recap takeaways from Corporate Secretary’s ESG Integration Forum – Summer Artificial intelligence (AI) is going to have a global and unpredictable impact. In the latest episode of Corporate Secretary’s Governance Matters podcast, editor-at-large Ben Maiden speaks with Keir Gumbs, chief legal officer with Broadridge Financial Solutions, about some of the opportunities and concerns AI raises for the governance profession. Gumbs recalls the early 1990s, when the internet arrived in people’s lives. ‘A friend of mine at Sanford said, We’ve got this thing called electronic mail. And I said, Why would I want to do that? I could just…
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Unisys hires general counsel and chief administrative officer
Kristen Prohl joins tech company from ITT Unisys has hired Kristen Prohl as the company’s general counsel and chief administrative officer. She reports to chair and CEO Peter Altabef. In her new role, Prohl is responsible for the company’s legal affairs, corporate secretarial and governance functions, corporate development and M&A, ethics and compliance and the Unisys ESG program. She also oversees functions such as corporate real estate worldwide, global procurement and crisis management. Prohl most recently was vice president, deputy general counsel, chief compliance officer and corporate secretary at ITT. Before joining ITT, she was associate general counsel and assistant…
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Huntington National Bank hires ex-BofA official as general counsel
Marcy Hingst will succeed Jana Litsey, who is due to retire The Huntington National Bank has hired Marcy Hingst as its next general counsel. Hingst was most recently at Bank of America (BofA) where, according to her LinkedIn profile, she spent more than 16 years. Most recently she was the global financial crimes executive, Bank Secrecy Act officer and chief risk officer (CRO) for the global wealth and investment management lines of business. Before taking on that role, she was BofA’s CRO for its consumer and small business banking divisions and, before that, she was deputy general counsel for those…
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CBRE names new general counsel
Predecessor declined to move with position to Dallas Some 44 percent of the almost 2,000 AGMs facilitated by Lumi globally in the first half of the year were virtual, making it the most popular format. This compares to 35 percent that were held in a hybrid format and just over a fifth (21 percent) that were in-person only. Lumi says the number of virtual meetings has grown by 9 percent over the same period last year. ‘Early signs show that hybrid meetings will surpass 2022 by a significant level,’ it states in its half year AGM report. The meeting provider…
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Hybrid AGMs increase as virtual remains most popular format, Lumi says
More than a third of meetings held in hybrid format this proxy season, meeting provider says Commercial real estate services and investment firm CBRE Group has promoted Chad Doellinger to become its new general counsel. CBRE has decided to move its general counsel position to Dallas. According to the company, Larry Midler has decided to step down from that role rather than relocate and will remain with the company in a consulting capacity until mid-2024. According to his LinkedIn profile, Midler has been general counsel with CBRE for almost 20 years and is based in Los Angeles. Midler did not…
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The week in GRC: Microsoft, LSEG working on AI models and European Commission publishes ESG disclosure rules
This week’s governance, compliance and risk-management stories from around the web –The Financial Times (paywall) reported that the London Stock Exchange Group (LSEG) is working with Microsoft and several banks to create bespoke generative artificial intelligence (AI) models in a development that shows how the financial-services industry is looking to use the technology without exposing proprietary data. Although many financial-services companies are interested in AI’s potential benefits, they are wary of inputting confidential information in the models, which continually learn from the data they are given. LSEG CEO David Schwimmer said, ‘We are having conversations with customers about the opportunity…
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IAASB unveils next step for sustainability reporting standards
Final standard to be issued by the end of 2024 The International Auditing and Assurance Standards Board (IAASB) hasproposed general requirements for the International Standard on Sustainability Assurance 5000 (ISSA5000), which focuses on improving sustainability reporting globally. According to the IAASB, when approved this ‘will serve as a comprehensive, stand-alone standard suitable for any sustainability assurance engagements.’ The proposed standards can be applied to information about all sustainability topics and aspects of topics as well as information prepared in accordance with any sustainability reporting framework, such as TCFD and the International Sustainability Standards Board IFRS S1 and S2. IAAS 5000also…
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Why effective ESG starts and ends with your investors
Follow these basic steps to lay the groundwork for a successful ESG journey with investors, Sylvie Harton says The influence of ESG on investing is undeniable, with the acronym itself dominating headlines on a daily basis. Today, an impressive 89 percent of investors consider ESG factors in their investment decisions, reflecting a growing trend of conscious investors. Yet, the term has become somewhat of a buzzword. BlackRock’s Larry Fink has even reportedly stopped using the term ESG for fear that it has become too political. However, to shy away from ESG would be a mistake. And, to truly make a…
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Auto insurer Hagerty names successor to long-time general counsel
Barbara Matthews has been in her role for 15 years Diana Chafey is joining NYSE-listed Hagerty as the company’s chief legal officer (CLO) and corporate secretary. Chafey will succeed Barbara Matthews, who is retiring. Matthews has been Hagerty’s general counsel and senior vice president of legal since 2007 and will remain with the company in a senior adviser role until the end of 2023 to help with the transition. Most recently, Chafey was CLO and corporate secretary for ATI Physical Therapy. Before joining ATI, she was executive vice president, CLO and corporate secretary for The Warranty Group, a role in…
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ISSB proposes sustainability taxonomy
Board aims to issue a final version in early 2024 The International Sustainability Standards Board (ISSB) has issued a proposal reflecting the disclosure requirements under the inaugural global standards IFRS S1andIFRS S2. The proposed IFRS Sustainability Disclosure Taxonomyis designed to help users better understand how to produce sustainability-related financial information digitally. The ISSB is requesting feedback during a consultation period that closes on September 26. ‘Investors increasingly consume information digitally, therefore it’s important that we facilitate digital consumption of sustainability-related financial information,’ ISSB chair Emmanuel Faber says. ‘Our proposed digital taxonomy is designed to make it easier for investors to…
