Proxinvest Corporate Governance Rating ® helps investors integrate governance into their investment decision and identify governance risks and opportunities within their portfolio.
Proxinvest Corporate Governance Rating ® Service rates European issuers through the analysis of four main themes :
Each theme is rated taking into account several comprehensive sub-categories.
Our unique two-step process to achieve each rating includes a first step quantitative valuation and a second step qualitative filter. Indeed, our process is supported by a network of local experts that have a deep knowledge of each local market best practices (from both customs and regulatory points of views).
If you are interested in the Proxinvest Corporate Governance Rating ®, please contact directly Proxinvest ( or +33(0)1 45 51 50 43).
ABN AMRO Group NV is a Netherlands-based financial institution engaged in the provision of banking products and services. The Company's activities are organized into four segments: Retail Banking, offering a range of banking and insurance products and services through branch and online network, contact centers and subsidiaries, serving retail and preferred banking clients, as well as small and medium enterprises (SMEs); Private Banking, providing global wealth management solutions, as well as custom financial products and services; Corporate Banking, delivering products to commercial customers, real estate investors, financial institutions, and entities involved in Diamond & Jewellery and Energy, Commodities & Transportation (ECT) areas, among others, as well as providing products and services related to capital markets, including clearing; and Group Functions, comprising corporate menegement operations. The Company operates in Europe, North America, South America, Australia and Asia.
Founded in 1995, Proxinvest is an independent proxy firm supporting the engagement and proxy analysis processes of investors. Proxinvest mission is to analyse corporate governance practices and resolutions proposed at general meetings of listed firms.
Proxinvest main services are :
Proxinvest has been a pioneer and champion of good corporate governance and has grown into a recognised expert in the field.
Proxinvest is independently-owned and only works for investors : Proxinvest does not provide consulting services to the companies it covers, mitigating related risks to its clients and ensuring the independence of our analysis. As a result Proxinvest is able to take a robust, independent, engaged and unconflicted view of the companies in which our clients invest.
As Managing Partner of Expert Corprate Governance Service Ltd (ECGS), Proxinvest has built a large network of corporate governance experts to support clients in corporate governance analysis worldwide.
ABN AMRO suffered from revenue headwinds and the bank's cost measures were not enough to offset this pressure. Net Income declined by 20% YoY in 1Q19. The bank's credit costs somewhat improved over the quarter. ABN AMRO has a solid capital position. That said, RWA dynamics are likely to keep pressure on its capital and MREL ratios this year. ABN AMRO has indicated that it plans to issue non-preferred senior this year. Meeting this year's MREL target would imply an issuance need of c.€800m. ABN AMRO has already issued four green bonds. We see value in the green ABNANV0.875 4/25 that has underpe...
ABN Amro reported first-quarter results of EUR 478 million, down 20% from the same period a year prior, as lower operating expenses as well as lower impairment charges could not offset weaker income generation. Net interest income declined 6% year over year on the back of continued deposit margin compression and a mix of volume and margin developments in the corporate, residential mortgage, and customer loan operations, which in sum were a negative this quarter. The group’s net interest margin fell 7 basis points to 160 basis points. Net fee and commission income was down 4% vis-à-vis last yea...
ABN Amro reported first-quarter results of EUR 478 million, down 20% from the same period a year prior, as lower operating expenses as well as lower impairment charges could not offset weaker income generation. Net interest income declined 6% year over year on the back of continued deposit margin compression and a mix of volume and margin developments in the corporate, residential mortgage, and customer loan operations, which in sum were a negative this quarter. The group’s net interest margin f...
Même si la société est familiale et contrôlée, la gouvernance présente de nombreuses faiblesses qui ne respectent pas les principes de Proxinvest avec notamment un conseil composé très majoritairement de membres non-libre de conflits d'intérêts, l'existence de droits de vote double. La société propose de reverser un dividende de 0,80 € aux actionnaires. Compte tenu de son endettement significatif, la société devrait allouer cette somme à l’apurement de ses dettes. Par ailleurs la société s’autorise toujours à intervenir en période d’offre publique, cela ne respecte pas nos préconisations. E...
La présenté assemblée se concentre essentiellement sur la nomination de Julie Walbaum au poste de Directrice Générale. Ainsi il est proposé aux actionnaires d'approuver la clause de non-concurrence de la nouvelle dirigeante. Proxinvest recommande une durée de 2 années pour une compensation d'une année de rémunération. Ici la société propose une durée d'une année pour 50% de la rémunération annuelle. Proxinvest recommande d'approuver cet engagement au regard des montants. Ensuite concernant les rémunérations Proxinvest recommandera de s'opposer à la rémunération attribuée en 2018 à Julie Walb...
L'ensemble des rémunérations des dirigeants mandataires sociaux font l'objet des résolutions 6 à 11. La particularité d'Infotel est de présenter des politiques de rémunération ne comportant aucune part variable. Cette spécificité n'est pas en accord avec notre politique de vote. Toutefois, les mandataires sociaux dirigeants sont tous actionnaires à au moins 1,99% du capital et les montants sont raisonnables, ce qui atténue nos réserves et permet des recommandations positives. Les caractéristiques du conseil d'administration ne répondent pas à nos attentes en matière de gouvernance puisqu'il e...
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