A State Street Global Advisors banner is hung outside the New York Stock Exchange (NYSE) in New York, U.S., March 8, 2021.
REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsBOSTON, Nov 29 (Reuters) - State Street's (STT.N) asset-management arm will give retail investors an option to fully back corporate boards as it brings online features to allow fund shareholders to control their proxy voting rights, executives said.
The option comes as State Street and rivals move to devolve proxy voting powers to shareholders on matters like director elections or environmental, social and governance (ESG) issues.
But even that policy directed some proxy votes to be cast against boards' recommendations on governance questions like executive pay or share structure, said Lori Heinel, global chief investment officer at State Street Global Advisors.
State Street Global Advisors manages $3.7 trillion in all.
Brendan McDermid, Lori Heinel, let's, Ross Kerber, Stephen Coates
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