FOR IMMEDIATE RELEASE Oct. 30, 2024 CONTACT Carter Dougherty, carter@ourfinancialsecurity.org Labor Pushes for Limits on Asset Manager Influence Over U.S. Banks Investors, advocates join union efforts to boost oversight of Wall Street behemoths Washington, D.C. – Today, 38 labor unions, investors, and advocates submitted a
BlackRock and Vanguard, the world’s two largest asset managers, voted against a shareholder proposal requesting an independent audit of Amazon’s notoriously dangerous warehouse working conditions for the third year in a row, according to recently-disclosed proxy voting data. This vote reflects a troubling pattern of powerful asset managers using their immense power over public companies to stand in the way of shareholder efforts to force corporate boards and executives to address very real financial risks.