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Mellon Investments Corporation

PRI reporting framework 2018

You are in Direct - Listed Equity Active Ownership » Engagement » Overview


LEA 01. Description of approach to engagement

New selection options have been added to this indicator. Please review your prefilled responses carefully.

01.1. Indicate whether your organisation has a formal engagement policy.

01.2. Attach or provide a URL to your engagement policy.

01.3. Indicate what your engagement policy covers:

          Executive compensation analysis relative to peer performance

01.4. Provide a brief overview of your organization’s approach to engagement

BNY Mellon's Proxy Voting and Governance Committee (PV&GC) provides transparency to the issuer community by releasing a summary publication of the firm's proxy voting guidelines. The Committee members, equity professionals who represent their member firm, vote their clients shares to maximize the value of the investments. The PVGC has established detailed, pre-determined, written voting guidelines for specific types of proposals and matters commonly submitted to shareholders ("PVGC Voting Guidelines").

We leverage these efforts to engage with U.S. and international companies on issues including, boards, governance, compensation, transactions, contested meetings, and shareholder proposals. The PV&GC focuses on three areas that strengthen the alignment between company leadership and shareholders:

  • Overall review of corporate governance at the firm.
  • Consideration of how the board of directors best represents our underlying shareholder interests.
  • The structure and execution of the executive compensation program relative to performance and benchmarked to peers.

Lastly, in reviewing the proxy voting guidelines the committee considers the evolving regulatory environment and investor sentiment in order to ensure that BNY Mellon delivers best practices.

01.6. Additional information [optional]

The Proxy Voting & Governance Research team supports the committee's efforts to employ corporate-governance research and financial analytics to discern value enhancing vote decisions at nearly 12 thousand meetings for U.S. and international issuers each year. The team researches voting proposals for the committee, leads engagement efforts, and maintains oversight of all operational aspects of the proxy-voting process. The concerted efforts of the equity professionals who serve on the committee, and the research professionals who frame and implement the voting requirements, provide our clients with proxy-voting best practices to enhance the value of their investment.

LEA 02. Reasoning for interaction on ESG issues

02.1. Indicate the method of engagement, giving reasons for the interaction.

Type of engagement

Reason for interaction

Individual/Internal staff engagements
Collaborative engagements
          PVGC is a collective of investment boutiques that discusses proposal matters and often but not always chooses to vote as a group.
Service provider engagements

Please specify why your organisation does not engage via service providers.

We only use service providers for voting.

02.2. Additional information. [Optional]