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Rating:Some Fundsters and Fund Firms Sign a Voting Rights Ad Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, April 15, 2021

Some Fundsters and Fund Firms Sign a Voting Rights Ad

Reported by Neil Anderson, Managing Editor

Several fundster CEOs and mutual fund firms (and their parents) are among the 500-plus CEOs, celebrities, and companies that put their names on a voting rights ad that ran yesterday in multiple newspapers (including the New York Times and the Washington Post). The ad, titled "We Stand For Democracy," was posted by the Black Economic Alliance and comes as many states are weighing new laws related to voting (such as a recently passed law in Georgia that has been the subject of national attention and controversy). (The alliance claims that there are more than 360 pending bills in 47 states "that contain discriminatory voting measures.")

Mellody Hobson and John Rogers, co-CEOs of Ariel Investments, are listed among the "original signatories" of the "We Stand for Democracy" joint statement. Other familiar individuals who signed on included: Larry Fink, CEO of BlackRock; Mario Giannini, CEO of Hamilton Lane (which recently bought 361 Capital and is poised to back Russell Investments); and Ron O'Hanley, CEO of State Street (parent of SSGA). Familiar corporate signatories include: AIG (whose MF business lies in the life and retirement arm, which is being spun off), BlackRock, Goldman Sachs (parent of GSAM), T. Rowe Price, Vanguard, and Wells Fargo (which is in the process of spinning off its WFAM arm.)

The statement, which does not specifically mention any laws or bills, reads:
We stand for democracy, a government of the people, by the people. A beautifully American ideal, but a reality denied for too much of this nation's history. As Americans, we know that in our democracy we should not expect to agree on everything. However, regardless of our political affiliations, we believe the very foundation of our electoral process rests upon the ability of each of us to cast our ballots for the candidates of our choice. For American democracy to work for any of us, we must ensure the right to vote for all of us. We all should feel a responsibility to defend the right to vote and to oppose any discriminatory legislation or measures that restrict or prevent any eligible voter from having an equal and fair opportunity to cast a ballot. Voting is the lifeblood of our democracy and we call upon all Americans to join us in taking a nonpartisan stand for this most basic and fundamental right of all Americans.

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