Institutional Activism Daniel F. Pedrotty AFL-CIO Office of Investment 202-637-5379 WF – Bus Org October 26, 2010.

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Presentation transcript:

Institutional Activism Daniel F. Pedrotty AFL-CIO Office of Investment WF – Bus Org October 26, 2010

Director, AFL-CIO Office of Investment (2006-present); Counsel ( ) –corporate governance strategies for affiliate unions and pension fund trustees –liaison to lawmakers, agencies (Treasury, SEC, CFTC) and media covering capital markets and corporate governance. Bio –Dickinson College (B.A. Political Science 1999) –Wake Forest University School of Law (J.D. 2002) –Associate, Philadelphia and Washington law firms ( ) –Gephardt for President campaign ( )

Worker funds are long-term investors ($6 trillion in retirement savings) Public Employees ($2.6 Trillion) Union Sponsored ($450 billion) Corporate Sponsored Collectively Bargained ($1 Trillion) Corporate Sponsored ($2 Trillion)

Equal access to proxy (shareholder nomination of directors)

Wall Street Reform Initiatives AFL-CIO Agenda

AFL-CIO Reform Priorities Consumer Financial Protection Bureau Re-regulate the Shadow Banking System (derivatives, hedge funds & private equity) Limit reckless risk taking by big banks (Volcker Rule) Reform corporate governance & CEO pay –Proxy access –Say on pay –Majority voting March on Wall Street, April 29, 2010

AFL-CIO Corporate Governance PayWatch: gives workers and trustees information on CEO pay, and includes materials for challenging “pay for pulse.” Key Votes Survey: Annual report which rates the voting practices of investment managers by surveying how they voted on a range of governance proposals. Proxy Voting Guidelines: Serves as a guide for pension trustees in voting their funds’ shareholder proxies. Source: AFL-CIO analysis of pay data from 292 companies provided by salary.com.

Contact Information Dan Pedrotty AFL-CIO 815 Sixteenth Street, N.W. Washington, DC Office of Investment Website:

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