CII Spring 2019 Conference

Schedule: For a majority of attendees the conference starts at 3:00 PM on Monday, March 4. Any attendee who is taking one of our education courses or is a member of CII's board of directors or advisory councils will have an earlier start time. Please see the detail pages on the left for more information.

Press: Members of the press are welcome to attend all networking events and plenary, breakout, and member-hosted sessions on Monday, March 4, and Tuesday, March 5. All sessions on Wednesday, March 6 are closed to press. Attendance is limited to one representative per media outlet. Please contact Michael Miller for more information.

Hotel Accommodations: CII has secured a discounted block of rooms at the Mandarin Oriental at $335/night. A link to book discounted rooms online will be included in your conference registration confirmation email.

Agenda

  • Optional  Optional
  • Fee  Fee
  • Monday, March 4, 2019
  •  
    8:00 AM  -  7:45 PM
    Member Lounge Open
    Sackler
    Sponsored by EY.
    8:00 AM  -  7:45 PM
    Registration Open
    Oriental Office and Desk
     

    Optional Education Courses (Additional Fees Apply)

    8:30 AM  -  2:30 PM
    Pension Fund Trustee Training – Fiduciary Fitness
    Oriental C

    CII and the CFA Institute are pleased to offer the latest in our series of educational programs for new and experienced fund trustees. The course will focus on three key elements of fiduciary fitness: fiduciary skills, investment skills and current and emerging practices. See the Trustee Training & Networking Dinner page for more information. The full course curriculum is available here.

    Buffet lunch provided.

    Fee  Optional 
    12:00 PM  -  2:00 PM
    Master Class: How to Achieve Engaged Ownership
    Oriental A

    This two-hour session will focus on how investors, particularly in the active management category, do the heavy lifting of determining, on a company-by-company basis, the strengths and weaknesses of management oversight and stakeholder issues relevant to long-term performance. Class participants will come away with a practical understanding how highly engaged investors glean their determinations and various approaches for acting on those determinations. Please see the Master Class: How to Achieve Engaged Ownership page for more information.

    Buffet lunch provided, available from 11:30 AM

    Moderator:
    Fee  Optional 
     

    Plenary Sessions

    3:00 PM  -  3:05 PM
    Conference Opens: Welcome
    Grand Ballroom
    Introduction:
    3:05 PM  -  4:00 PM
    Directors as Change Agents
    Grand Ballroom
    An international panel of three accomplished women directors will discuss their experiences as change agents during various times of crisis for their companies.
    Moderator:
    4:00 PM  -  4:30 PM
    Interview with Hiro Mizuno of Japan’s GPIF
    Grand Ballroom
    Hiro Mizuno will share his unique perspectives as the executive managing director and chief investment officer of the world’s largest pension fund, Japan’s $1.4 trillion Government Pension Investment Fund.
    Speaker:
    Interviewer:
    4:30 PM  -  5:00 PM
    Interview with Sarah Williamson: Focusing Capital on the Long Term
    Grand Ballroom

    Sarah Williamson, CEO of FCLTGlobal, a not-for-profit organization dedicated to encouraging long-term behaviors in business and investment decision-making, will discuss what’s needed to focus companies and investors on distant investment horizons.

    Supplemental materials:

    Speakers:
    Interviewer:
     

    Member-Hosted Meetings (Open to All Attendees)

    5:10 PM  -  6:10 PM
    Human Capital Management Risks in the Gig Economy
    Oriental A

    Hosted by Change to Win Investment Group and Segal Marco Advisors.

    As of May 2018, nearly 3.8 percent of United States’ workforce were classified as contingent labor and included those in the gig economy. Current conditions persisting, 40 percent of the workforce are expected to be engaged in the gig economy by 2020. The shift challenges the traditional employment model. The contingent workforce brings benefits to companies by keeping operational costs low. It also raises risks for investors as companies confront a new regulatory landscape, and liability stemming from worker misclassification and other human capital management challenges.  

    The panel will offer insights from:

    • Brett Murphy, an investigative journalist and Pulitzer finalist whose groundbreaking Rigged series in USA Today opened America’s eyes to worker misclassification in the supply chain;
    • Tanya Goldman, a Senior Policy Analyst and Attorney with CLASP and former Senior Policy Advisor at the Department of Labor who will highlight the legal and regulatory challenges posed by employee misclassification in the gig economy;
    • A Southern California drayage driver; and
    • Elizabeth Greenwood, a Trustee at the Los Angeles City Employees’ Retirement System who has become active on the issue.

     

    5:10 PM  -  6:10 PM
    Ownership & Control: Economic Exposure and Voting Power
    Hillwood

    Hosted by MSCI.

    This panel will explore a wide range of different capital and ownership structures and their potential impact on equity investors. Ownership structures vary widely across the world, often leading to misalignment between economic exposure and voting power at public companies, as highlighted by the Snapchat IPO in 2017. Some, such as dual class shares with disparate voting rights, are easily identified and understood, while others, such as multi-level stock pyramids and complex cross-shareholdings, are much more difficult to discern. How can investors best recognize and allow for these various structures? Is there a control risk premium that investors may want to take into consideration? Are there particular structures that may warrant being avoided altogether? Please join our panel of global experts as they explore these critical governance questions.

     

     Speakers

    Alan Brett, Executive Director & Head of Corporate Governance Ratings Research, MSCI

    Ray Cameron, Head of Investment Stewardship, Americas, BlackRock

    Mike Lubrano, Co-Founder and Managing Director, Corporate Governance and Sustainability, Cartica Management

    Ric Marshall, Executive Director - ESG Research, MSCI

     

    5:10 PM  -  6:10 PM
    Shareholder Proposals at a Crossroads
    Oriental B

    Hosted by Institutional Shareholder Services.

    For nearly 80 years, the shareholder proposal process has bolstered confidence in U.S. capital markets by empowering investors to strengthen governance, environmental and social practices, increase transparency and foster accountability at public companies. Despite these benefits, corporate lobbyists now walk the halls of Congress and the Securities and Exchange Commission hoping to prod actions that would slash both the number of shareholder proposals that appear on ballots and the types of issues that they can address. During this highly interactive session, a panel of investors and other experts will discuss the evolving role played by shareholder proposals in the current ESG environment and how current threats to the process in the U.S. could impact investor communication, cooperation and engagement. To enrich the discussion, ISS will dig into its DataDesk repository to illustrate the evolving role of shareholder proposals in the U.S. over the past several decades and the role that these resolutions play in encouraging the spread of ESG best practices. To help prepare for the 2019 proxy season, ISS will provide a preview of the new and novel ESG shareholder proposals that may appear on ballots at upcoming AGMs.

     

    Moderator: Pat McGurn, Special Counsel, ISS

     

    Panelists: Karina Litvak, Independent Non-Executive Director, Eni SpA

    Peter Reali, Senior Manager, Responsible Investing, Nuveen

    Brandon Rees, Deputy Director, Corporations and Capital Markets, AFL-CIO

    Scott Zdrazil, Senior Investment Officer, LACERA


     

    Networking Event

    6:15 PM  -  7:45 PM
    Cocktail Reception
    Grand Ballroom Foyer
    Sponsored by IEX.
  • Tuesday, March 5, 2019
  •  
    7:00 AM  -  7:00 PM
    Member Lounge Open
    Sackler
    Sponsored by EY.
    7:00 AM  -  7:00 PM
    Registration Open
    Oriental Office and Desk
    7:30 AM  -  8:15 AM
    Continental Breakfast
    Grand Ballroom Foyer
    Sponsored by World Gold Council.
     

    Plenary Sessions

    8:15 AM  -  8:30 AM
    CII Advocacy Priorities for 2019
    Grand Ballroom
    CII Board Chair and CIO of the Florida State Board of Administration Ash Williams and CII General Counsel Jeff Mahoney will share CII’s advocacy priorities for 2019 and offer a rundown of governance news from Capitol Hill and the SEC.
    Speakers:
    8:30 AM  -  9:00 AM
    Blockchain and Securities Trading
    Grand Ballroom
    Symbiont CEO Mark Smith will discuss his company’s initiatives on the frontier of fintech, as well as how blockchain technology can support a system of traceable shares for securities transfer, ownership and voting.
    Speakers:
    Moderator:
    9:00 AM  -  9:30 AM
    SEC Hot Topics
    Grand Ballroom
    Commissioner Peirce will discuss key SEC initiatives and current trends affecting investors, markets and capital formation.
    Speaker:
    9:30 AM  -  10:20 AM
    Panel: Pay Pioneers
    Grand Ballroom
    Hear why and how two companies are bucking the standard approach to executive compensation, and an investor perspective on the need for pay plans that are simpler and more long-term oriented.
    Moderator:
    10:20 AM  -  10:55 AM
    Focusing on the “S” in ESG
    Grand Ballroom

    ESG has become a standard abbreviation for Environmental, Social and Governance in the investors’ lexicon of terms. But the E and G have received all of the attention. The Oregon State Treasurer will offer his perspective as a fiduciary on why the social component of that term deserves more attention.

    Speakers:
    Speaker:
    Moderator:
     

    Networking Event

    10:55 AM  -  11:20 AM
    Coffee Break
    Grand Ballroom Foyer
    Sponsored by FTSE Russell.
     

    Breakout Sessions

    11:20 AM  -  12:10 PM
    Engaging in Market Policy Reform to Enhance Long-Term Performance
    Oriental A
    How are fund returns threatened by how the stock market is run? Learn how equity markets siphon billions in excess costs from investors and how plan fiduciaries are fighting to change the game in their favor.
    Moderator:
    11:20 AM  -  12:10 PM
    Fixed Income and Corporate Governance
    Oriental C

    Panelists will evaluate why and how corporate governance and sustainability issues matter to fixed income investors.

    Supplemental Materials:

    Moderator:
     

    Plenary Sessions

    12:15 PM  -  1:45 PM
    Luncheon Keynote: Leadership
    Grand Ballroom
    Speakers:
    Introduction:
     

    Constituency Meetings

    2:00 PM  -  3:15 PM
    Associate Members
    Oriental A
    2:00 PM  -  3:15 PM
    Corporate General Members
    Oriental B
    2:00 PM  -  3:15 PM
    Labor Union General Members
    Garden I
    2:00 PM  -  3:15 PM
    Public Pension Fund General Members
    Oriental C
     

    Business Meeting

    3:30 PM  -  4:15 PM
    General (Voting) Members' Business Meeting
    Grand Ballroom
     

    Member-Hosted Meetings (Open to All Attendees)

    4:30 PM  -  5:30 PM
    Diversity – let’s get on with it
    Oriental B

    Hosted by Hermes EOS.

    • Kimberley Lewis, Director, Hermes EOS (Moderator)
    • Geof Stapledon, Vice President Governance, BHP
    • Cambria Allen, Corporate Governance Director, UAW Retiree Medical Benefits Trust
    • Esther Aguilera, President and CEO, Latino Corporate Directors Association
    • Jason Wright, Partner, McKinsey & Company

    Setting targets, gathering data, committee reviews – we’re in agreement that diversity is needed but why aren’t all companies getting on with it and showing greater progress? We have data. The diversity report by McKinsey has highlighted companies with greater ethnic, cultural, and gender diversity are more successful financially. BHP has set a new precedent by agreeing targets for 2025 gender diversity across all levels from the board down in its organisation. If a mining, metals and petroleum company can do it then so can others.And do companies and investors need to be bolder on ethnic and national diversity? Should there now be more focus on regulation like the recent Californian law?So are we making diversity more complicated than it needs to be? Make sure you attend this session to hear why companies and investors need to step up to gain the full benefits of diversity.

    4:30 PM  -  5:30 PM
    Lessons from the Front Lines: Challenges and Solutions for Renewable Energy Deployment & Transitions
    Oriental A

    Hosted by LIUNA

    The rapidly shifting U.S. energy landscape has created as environment in which long-term investors must capitalize or risk being left behind. Investor-owned utilities must chart paths forward that balance the demands of shareholders, regulators, customers and local communities.

     

    CII participants will hear from leaders in the energy sector in practical challenges, lessons learned, and strategies for using stakeholder engagement to delver successful energy projects in Minnesota - a state that has long been on the cutting edge of energy progress.

     

    Investors will get the tools needed to ask companies how they are planning for the changing environment and what steps they are taking ton ensure that energy projects are done in responsible ways to benefit local workers and the communities.

     

    Panel Speakers:

    Chris Clarke, President of Xcel Energy in Minnesota, North Dakota, and South Dakota

    Vice-Chairman Dan Lipschultz, Commissioner on the Minnesota Public Utilities Commission

    Kate O’Hair, EDF Renewables Vice President of Development

    4:30 PM  -  5:30 PM
    Understanding ESG Risk at Large Technology Companies
    Oriental C

    Hosted by the Office of the New York City Comptroller and the UFCW Pension Plan.

     

    Large technology companies have become the most valued stocks in our portfolios. They have also become some of the most influential companies in our society. That influence is not always beneficial, with potentially negative consequences for long-term value. Like companies in other parts of the economy, large technology companies face environmental, social, and governance risks. These include dependence on fossil fuels, human and civil rights abuses, privacy violations, and underdeveloped boards, among others. This panel will provide examples of ESG risks at large technology companies – including Amazon, Facebook, and Alphabet – and describe how CII members and other shareholders are engaging to mitigate those risks.


    4:30 PM  -  5:30 PM
    Corporate Governance in Emerging Markets: What Matters Most?
    Hillwood

    Hosted by Sands Capital Management. This panel will consist of subject matter experts who will share perspectives on balancing global standards with local context. The panel will approach the topic in two dimensions: 1) fundamental factors that shape company performance and 2) macro factors that shape company performance.

     

    Panelists

    • Brian Christiansen, Sr. Portfolio Manager, Research Analyst, Executive Managing Director, Sands Capital
    • Mike Lubrano, Co-Founder and Managing Director, Corporate Governance and Sustainability, Cartica Management



     

    Networking Event

    5:45 PM  -  7:15 PM
    Cocktail Reception
    Grand Ballroom Foyer
    Sponsored by CAQ.
  • Wednesday, March 6, 2019
  •  
    8:30 AM  -  9:30 AM
    Continental Breakfast
    Grand Ballroom
    8:30 AM  -  12:00 PM
    Member Lounge Open
    Sackler
    Sponsored by EY.
    8:30 AM  -  12:00 PM
    Registration Open
    Oriental Office and Desk
     

    Plenary Sessions

    9:30 AM  -  10:20 AM
    Drivers of Emerging Markets Capital Flows | Global Governance Developments
    Grand Ballroom

    Hosted by the CII International Governance Committee Co-chairs: James Andrus, CalPERS; Alec Stais, Rhode Island

     

    The first part of the session will examine the World Federation of Exchanges’recent research on factors that attract foreign investment inflows. The second half will feature discussion of a range of developments in Europe, including a recent legislative push to shore up firm managers’ control, the broadening scope of institutional investor collaboration and the use of pension member surveys to help shape investment decisions.

    Moderator:
    10:20 AM  -  11:00 AM
    Investor Sentiment on Executive Pay Design
    Grand Ballroom
    Many asset owners are growing more comfortable opposing pay programs with a murky connection to long-term company performance. The panelists will share their perspectives on investors’ waning enthusiasm for complex pay packages. The discussion will be teed up with an update on potential changes on the horizon for CII’s official stance on pay.
    Speakers:
    Moderator:
    11:00 AM  -  12:00 PM
    Investors Engage on #MeToo | CII Member Proxy Season Initiatives
    Grand Ballroom

    Hosted by CII Shareholder Advocacy Committee Co-Chairs:

    Patti Brammer, Corporate Governance Officer for the Ohio Public Employees Retirement System; Brandon Rees, Deputy Director, Office of Investment, AFL-CIO

    Sexual harassment in the workplace presents a serious financial risk to companies. Speakers will explore actions being taken to mitigate this risk. Supplemental materials:

    This discussion will be followed by a ‘lightning round’ during which CII members will come up to the mic and share their initiatives for the 2019 proxy season. A list of member initiatives and descriptions are available here.

     

    Networking Event

    12:00 PM  -  1:00 PM
    Buffet Lunch
    Grand Ballroom Foyer
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