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City grandees defend proxy advisers as scrutiny grows

Criticism can be ‘emotive’ rather than evidence-based as passives continue boom

City grandees defend proxy advisers as scrutiny grows

A number of City executives have defended the role of proxy advisers in markets amid growing scrutiny of the sector.

Proxy advisers, which provide institutional investors with voting suggestions, have drawn ire from company executives in recent months for wading into decisions on pay and company strategy.

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