Pat McGurn, program director at the Investor Responsibility Research Center (IRRC) until April, has joined rival governance advisory firm Institutional Shareholder Services. McGurn, the first professional to move between these two firms since Howard Sherman followed the same path back in 1988, described ISS as ‘the most talented corporate governance team in the business.’
For the past five years McGurn has had day-to-day responsibility for IRRC’s corporate governance service and he has also been its chief legal officer. Before joining IRRC, he was director of communications and research for the now defunct retail pressure group, United Shareholders Association.
At ISS, as VP and director, corporate programs, McGurn is charged with building the firm’s corporate base. ‘We have a business providing various services to US companies,’ explains Howard Sherman, senior vice president at ISS. ‘Pat’s goal will be to take a look at that business to determine how we should develop it for both US and foreign clients.’
Sherman says it is a rapidly growing area of activity, as companies increasingly want data and advice to help them improve relations with institutional investors and to keep up-to-date on what other companies in their sector are doing about issues like takeover defences or compensation. To date, ISS has met their need informally. ‘But so many companies want this kind of service now that it warrants its own business,’ says Sherman.
