BlackRock Lets Investor Clients Vote Shares

Thomas Ball, senior vice president at proxy solicitor Alliance Advisors LLC, said it’s unclear how many eligible BlackRock clients will take advantage of the opportunity, noting that many without stewardship teams or voting policies will continue to let BlackRock and its team decide how to vote.
“Some of this may be window dressing to take the pressure off BlackRock,” Ball said. “They can say, ‘clients told us to vote that way.’” Ball added that he didn’t think BlackRock would tell proxy solicitors or others how their clients are voting, in advance of a director contest or important vote.

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