Glass, Lewis & Co. Market Research Report

Background

Overview

Glass, Lewis & Co. is a leading global provider of independent corporate governance research, data-driven insights, and innovative stewardship and proxy voting solutions. Established in 2003, the company is headquartered in San Francisco, California, and operates offices across North America, Europe, and Asia Pacific.

Mission and Vision

Glass Lewis aims to empower institutional investors and corporate issuers to make informed decisions by providing comprehensive governance research and proxy voting services. The company's vision is to support the creation and preservation of long-term shareholder value through best-in-class proxy voting solutions and high-quality, independent analysis of governance, finance, accounting, legal, and political risks at public companies worldwide.

Primary Area of Focus

The company specializes in corporate governance research, proxy voting recommendations, and stewardship services, assisting institutional investors in managing their proxy voting processes and engaging with corporate issuers on governance matters.

Industry Significance

Glass Lewis plays a pivotal role in the financial services sector by providing independent analysis and recommendations that influence shareholder voting decisions, thereby impacting corporate governance practices globally. Its services are integral to institutional investors, asset managers, and corporate issuers seeking to navigate complex governance landscapes.

Key Strategic Focus

Core Objectives

• Independent Research: Deliver unbiased and comprehensive corporate governance research to inform investor decisions.

• Proxy Voting Solutions: Provide efficient and effective proxy voting platforms and services.

• Stewardship Services: Engage with corporate issuers to promote best practices in governance and sustainability.

Specific Areas of Specialization

• Proxy Voting Policies: Develop and implement voting policies tailored to institutional clients' needs.

• Corporate Governance Research: Analyze and report on governance structures, executive compensation, and shareholder proposals.

• ESG Analysis: Evaluate environmental, social, and governance factors affecting corporate performance.

Key Technologies Utilized

• Viewpoint Platform: A proprietary platform that enables institutional clients to manage proxy voting, policy implementation, recordkeeping, and reporting.

• Data Analytics Tools: Utilize advanced analytics to assess governance practices and ESG factors.

Primary Markets Targeted

• Institutional Investors: Including pension funds, mutual funds, and asset managers.

• Corporate Issuers: Publicly listed companies seeking governance insights and proxy voting services.

Financials and Funding

Funding History

Glass Lewis has undergone several ownership changes:

• 2003: Founded by Kevin Cameron and Stephen Smith.

• 2006: Acquired Corporate Governance International, rebranded as CGI Glass Lewis.

• 2008: Acquired Washington Analysis, a political and economic advisory firm.

• 2015: Acquired IVOX GmbH, Germany's leading independent provider of proxy advisory and governance services.

• March 2021: Acquired by Peloton Capital Management and Stephen Smith from Ontario Teachers' Pension Plan and Alberta Investment Management Corp.

Financial Performance

As of the latest available data, Glass Lewis has an estimated annual revenue of approximately $178 million, with around 678 employees.

Pipeline Development

As a service-oriented firm, Glass Lewis does not have a product pipeline or clinical trials. Instead, the company focuses on continuously enhancing its research methodologies, expanding its coverage of global markets, and developing new services to meet the evolving needs of institutional investors and corporate issuers.

Technological Platform and Innovation

Proprietary Technologies

• Viewpoint Platform: A comprehensive solution for proxy voting management, policy implementation, and reporting.

Significant Scientific Methods

• Data Analytics: Employs advanced data analytics to assess governance practices and ESG factors, providing clients with actionable insights.

Leadership Team

Bob Mann – Chief Executive Officer

Bob Mann joined Glass Lewis as CEO in May 2024. Previously, he served as President and Chief Operating Officer of Morningstar Sustainalytics, overseeing its global expansion and growth. He holds an undergraduate degree in Economics from the University of Toronto and an MBA specializing in sustainability and finance from the Schulich School of Business at York University.

Carrie Busch – President and Director

Carrie Busch has been with Glass Lewis since 2019, bringing extensive leadership experience in finance, investment analysis, and corporate governance. She holds a Bachelor of Arts in Economics from Harvard University and an MBA from the Wharton School at the University of Pennsylvania.

John Wieck – Chief Operating Officer

John Wieck has been Vice President of Operations at Glass Lewis since February 2008. He holds a bachelor's degree in management and international business from New York University’s Leonard N. Stern School of Business and a master’s in banking and finance from Hofstra University’s Frank G. Zarb School of Business.

Cheryl Gustitus – Chief Strategy Officer

Cheryl joined Glass Lewis as Chief Strategy Officer to oversee the company’s strategic initiatives and drive accelerated growth. She has deep experience working with institutional investors and corporate issuers. Prior to joining Glass Lewis, Cheryl led marketing and communications for Sustainalytics.

Nichol Garzon-Mitchell – Chief Legal Officer, SVP Corporate Development

Nichol is responsible for overseeing all of Glass Lewis’ legal, compliance, and regulatory affairs, as well as corporate development, worldwide. She joined the company in 2004 and holds an LL.M. in corporate and securities law from Northwestern University School of Law and a J.D. from Universidad Panamericana.

Patrick Condren – Chief Technology Officer

Patrick Condren is the Chief Technology Officer at Glass Lewis, bringing nearly 35 years of software development experience and over two decades of senior technology leadership to the role. He earned his BSc from University College Dublin and is a strong advocate for lifelong learning.

Jason Wartman – Chief Financial Officer

Jason Wartman is the Chief Financial Officer at Glass Lewis, bringing extensive expertise in global strategy, financial planning, operations, mergers and acquisitions, and business development. He holds a bachelor’s degree in accounting, magna cum laude, from the University of Wisconsin – Whitewater, and an MBA from the University of Minnesota.

Nynke Doorenbos – Chief People Officer

Nynke Doorenbos joined Glass Lewis as Chief People Officer in February 2025. She holds an Executive MBA from Nyenrode Business University and a degree in International Law from Utrecht University.

Diederik Timmer – President, Climate Solutions

Diederik Timmer is the President of Climate Solutions at Glass Lewis, where he is leading the development of an innovative climate research and data offering. He serves on the board of Knology, a nonprofit research organization focused on applied social science.

Lili Mehta – Senior Vice President, Global Head of Corporate Business

Lili Mehta joined Glass Lewis in 2020 to lead the firm’s go-to market, business development, and engagement strategies with corporate issuers. She graduated from Virginia Tech with a Bachelor of Science and holds an MBA from George Washington University.

Competitor Profile

Market Insights and Dynamics

The proxy advisory and corporate governance research market is characterized by a few dominant players, with Glass Lewis holding a significant share. The industry is influenced by regulatory changes, increasing emphasis on environmental, social, and governance (ESG) factors, and the growing need for transparency in corporate governance practices.

Competitor Analysis

• Institutional Shareholder Services (ISS): A leading competitor offering proxy advisory services, corporate governance research, and ESG solutions.

• MSCI: Provides ESG ratings, research, and analytics, serving institutional investors globally.

• Kingsdale Advisors: Specializes in strategic shareholder communications and governance advisory services.

Strategic Collaborations and Partnerships

Glass Lewis collaborates with various institutional investors, corporate issuers, and industry stakeholders to enhance its research capabilities and service offerings. These partnerships enable the company to provide comprehensive and up-to-date governance insights to its clients.

Operational Insights