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2.09 MB
Extraction Summary
0
People
10
Organizations
1
Locations
11
Events
3
Relationships
3
Quotes
Document Information
Type:
Corporate report / house oversight committee evidence
File Size:
2.09 MB
Summary
This document is a page from a Rockefeller & Co. report regarding 'Active Stewardship in Financial Services,' marked with a House Oversight Committee stamp (HOUSE_OVERSIGHT_012077). It details the firm's efforts to improve risk management, transparency, and business standards within major US banks (including J.P. Morgan Chase, Wells Fargo, and Bank of America) via shareholder resolutions between 2011 and 2017. While Jeffrey Epstein is not named in the text, the document documents the specific years Rockefeller & Co. pushed J.P. Morgan Chase on 'Business Standards' (2014) and 'Proxy Voting' (2017), likely relevant to investigations into the bank's compliance failures regarding Epstein's accounts.
Organizations (10)
| Name | Type | Context |
|---|---|---|
| Rockefeller & Co. | ||
| Wells Fargo | ||
| J.P. Morgan Chase | ||
| Bank of America | ||
| Morgan Stanley | ||
| State Street | ||
| Interfaith Center on Corporate Responsibility (ICCR) | ||
| UN-backed Principles for Responsible Investment (PRI) | ||
| CERES/Investor Network on Climate Risk (INCR) | ||
| House Oversight Committee |
Timeline (11 events)
2011
Co-filing shareholder resolution: Restore Confidence in the Financial System
USA
2012
Co-filing shareholder resolution: Transparency in the Repurchase Markets
USA
2012
Co-filing shareholder resolution: Internal Controls Related to Mortgage Loan
USA
2014
Co-filing shareholder resolution: Report on Business Standards
USA
2014
Co-filing shareholder resolution: Report on Business Standards
USA
2014
2015
2017
Locations (1)
| Location | Context |
|---|---|
Relationships (3)
History of co-filing shareholder resolutions listed in document.
History of co-filing shareholder resolutions listed in document.
History of co-filing shareholder resolutions listed in document.
Key Quotes (3)
"Despite making significant progress in the areas of governing business risk and regulatory compliance, many financial companies continue to be involved in irresponsible business practices."Source
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Quote #1
"Such behavior can potentially hurt long-term shareholder value and damage their corporate reputation."Source
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Quote #2
"Finally, the outlook for possible increased deregulation under the new administration could potentially undermine the gains achieved by shareholders through active stewardship and engagements."Source
HOUSE_OVERSIGHT_012077.jpg
Quote #3
Full Extracted Text
Complete text extracted from the document (3,074 characters)
ROCKEFELLER & CO.
Doing Our Part at Rockefeller & Co.
Over the past several years, the Sustainability & Impact team at Rockefeller & Co. has implemented active stewardship with the financial services sector. On behalf of our clients, we have engaged with boards of directors and senior management, focusing on the following issues:
• Implementing strategy on long-term financial stability
• Improving transparency over business standards, values and culture
• Establishing sound risk management systems and processes
• Compensation and incentive programs tied to long-term performance
• Implementing new employee engagement and trainings
• Sustainable finance and climate related investments
• Financial inclusion and access to underserved populations
• Improving transparency over business standards, values and culture
• Establishing sound risk management systems and processes
• Compensation and incentive programs tied to long-term performance
• Implementing new employee engagement and trainings
• Sustainable finance and climate related investments
• Financial inclusion and access to underserved populations
As engaged investors, we believe we have made significant progress in many of these areas. We worked together with some of the largest banks in the United States in seeking to improve their disclosures over business standards and encouraged them to embrace ESG in their operations and investments. We continue to monitor their progress through regular meetings and communications.
Despite making significant progress in the areas of governing business risk and regulatory compliance, many financial companies continue to be involved in irresponsible business practices. Such behavior can potentially hurt long-term shareholder value and damage their corporate reputation. This is where we believe our active stewardship and constructive shareholder voice can have the most positive impact.
ROCKEFELLER & CO. HISTORY OF CO-FILING SHAREHOLDER RESOLUTIONS IN THE FINANCIAL SERVICES SECTOR AFTER 2008:
2017 Wells Fargo, Report on Business Standards
2017 J.P. Morgan Chase, Proxy Voting
2015 Bank of America, Separation of Chair & CEO
2014 J.P. Morgan Chase, Report on Business Standards
2014 Bank of America, Report on Business Standards
2014 Wells Fargo, Report on Business Standards
2013 Wells Fargo, Payday Lending
2012 Morgan Stanley, Transparency in the Repurchase Markets
2012 Bank of America, Internal Controls Related to Mortgage Loan
2011 State Street, Separate Chair & CEO
2011 Morgan Stanley, Restore Confidence in the Financial System
2017 J.P. Morgan Chase, Proxy Voting
2015 Bank of America, Separation of Chair & CEO
2014 J.P. Morgan Chase, Report on Business Standards
2014 Bank of America, Report on Business Standards
2014 Wells Fargo, Report on Business Standards
2013 Wells Fargo, Payday Lending
2012 Morgan Stanley, Transparency in the Repurchase Markets
2012 Bank of America, Internal Controls Related to Mortgage Loan
2011 State Street, Separate Chair & CEO
2011 Morgan Stanley, Restore Confidence in the Financial System
Our engagements with the financial services sector are supported by our long-term collaborative work with the Interfaith Center on Corporate Responsibility (ICCR). We also utilize other investor networks such as the UN-backed Principles for Responsible Investment (PRI) and the CERES/Investor Network on Climate Risk (INCR) to engage with companies on sustainability across various sectors.
Finally, the outlook for possible increased deregulation under the new administration could potentially undermine the gains achieved by shareholders through active stewardship and engagements. We believe that institutional investors should be more proactive than ever as stewards of companies and capital markets, and raise their voice in seeking to ensure good governance, accountability and responsible growth.
ACTIVE STEWARDSHIP IN FINANCIAL SERVICES 6
HOUSE_OVERSIGHT_012077
HOUSE_OVERSIGHT_012077
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