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Trillium News

Letter to FRB Shareholders: Vote Yes for Workplace Diversity Proposal

April 27, 2018 // Boston, MA – Trillium Asset Management published a letter to First Republic Bank shareholders encouraging them to vote in favor of a proposal on the Company’s 2018 proxy. This proposal requests the company to disclose workforce diversity metrics as well as a description of policies and programs focused on increasing gender and racial diversity in the workplace.

The letter provides the following rationale for voting ‘Yes’:

  1. First Republic Bank’s diversity disclosures are vague and insufficient
  2. Evidence finds that greater workforce diversity may lead to better business outcomes
  3. The Proposal’s request is not cost prohibitive

Read the letter to shareholders.

Contact: Brianna Murphy, Trillium Asset Management, (617) 532-6662; bmurphy[at]trilliuminvest.com

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Trillium Asset Management, LLC is the oldest independent investment advisor devoted exclusively to sustainable and responsible investing. With over $2.6 billion in assets under management, Trillium has been managing equity and fixed income investments for high net worth individuals, foundations, endowments, religious institutions, and other nonprofits since 1982. A leader in shareholder advocacy and public policy work, Trillium’s goal is to deliver both impact and performance to its investors.

Important Disclosure: The information provided is not a recommendation to buy or sell the security mentioned. The security was selected on an objective basis for illustrative purposes and does not represent all of the securities purchased, sold or recommended. It should not be assumed that investments in the security has been or will be profitable.

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