WisdomTree’s largest shareholder has called on fellow investors to oust chief executive officer Jonathan Steinberg, and urged for the potential sale of the $107bn US asset manager.
In a letter to shareholders on Monday (6 May), Graham Tuckwell, chair of ETFS Capital, which holds around an 18% stake in WisdomTree, asked investors to vote against the re-election of Steinberg and two other board members at the firm's annual meeting on 12 June. Laying out its own letter in response, WisdomTree asked shareholders to ignore the activist's callout, calling Tuckwell's latest move "against three of WisdomTree's directors – his third attempt against the board in the past three years – that is a waste of time and resources and not in the best interests of the company and all...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
