A group of public sector U.K. pension funds has called for a shareholder rebellion over poor governance practices at Belgian banking and life assurance group KBC. The move is part of the Local Authority Pension Fund Forum’s plan to take a tougher stance on governance issues at international companies.
The forum, whose 49 member funds have $110.3 billion under management, has long been an active voice on U.K. governance matters. But the financial crisis has convinced it to push foreign companies to improve their governance practices too.
