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Rajib Chanda Quoted in BoardIQ Regarding Fewer Directors Sitting on Multiple Complexes
08.12.14
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Simpson Thacher Corporate Partner Rajib Chanda was quoted in BoardIQ, a Financial Times publication, in an article discussing the fact that fewer independent directors of mutual funds are serving on boards of multiple fund complexes as concerns about competition and the increased time commitment of directors have increased. Rajib weighed in on the fact that he advises clients to create a policy on multiple directorships before it becomes an issue. He commented that a board’s stance on the topic may end up coming through during the search for new directors, and candidates already serving on other fund boards may not make it very far in the process if a board has a negative view of the practice. Rajib said, “Those kinds of judgments people are making are getting expressed…in the natural search process.”