
The Globe and Mail’s Report on Business has released its highly anticipated 2025 Board Games rankings, and Kingsdale is proud to celebrate the exceptional performance of our clients.
For more than two decades, Board Games has set the gold standard for evaluating corporate boards on the S&P/TSX Composite Index. Using a rigorous set of governance criteria that go far beyond minimum regulatory requirements, the rankings highlight organizations that lead with excellence.
This year, several Kingsdale clients, including Fortis, Manulife, and Scotiabank, secured top positions, demonstrating their commitment to strong governance and shareholder value.
Top-Performing Clients
- Fortis Inc. (Ranked #1)
- Manulife Financial Corp. (Ranked #3)
- The Bank of Nova Scotia (Ranked #5)
Some other companies in the Top Third include First Capital Real Estate Investment Trust (Ranked #21), Kinross Gold Corp (Ranked #28), and Keyera Corp. (Ranked #34) which gained 8 points
View the full list of rankings
Ready to improve your governance ranking or join Canada’s leaders? Contact us today at strategy@kingsdaleadvisors.com.

Latest Insights
Calgary 2026 Event Highlights
On October 21, 2026, Kingsdale Advisors hosted an exclusive evening in Calgary, where Aaron Boles, Neil Tolentino, Raman Bhan and Joshua Antonucci led a focused discussion on governance, shareholder engagement and activist defense ahead of the 2027 AGM season.
Vancouver 2026 Event Highlights
On October 20, 2026, Kingsdale Advisors hosted an exclusive evening in Vancouver, where Aaron Boles, Neil Tolentino, Raman Bhan and Joshua Antonucci led a focused discussion on governance, shareholder engagement and activist defense ahead of the 2027 AGM season.
Victor Li in Conversation with The Deal by S&P Global
Victor Li spoke with The Deal by S&P Global about key takeaways from Kingsdale's 2026 Proxy Season Review. Activist campaigns fell this year, but more went to a vote than at any point in five years, and the boards that won were the ones that engaged shareholders early.

When The Stakes Are Highest, Business Leaders Choose Kingsdale
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* Source: Bloomberg Global Shareholder Activism League Tables FY2025 and LSEG Global Shareholder Activism Review FY2025.
#2025 and 2026 indicate proxy seasons: July 2024 to June 2026.