
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
ISS Releases Changes to 2022 Benchmark Policy
On December 7, 2021, Institutional Shareholder Services Inc. (“ISS”) published its Benchmark Policy Changes for multiple countries in the Americas, including Canada. This publication of the final policy for 2022 comes more than a month after ISS released its proposed updates for comment on November 4.
Glass Lewis 2022 Policy Guidelines
Glass, Lewis & Co. has released its 2022 Policy Guidelines for the Canadian market as part of its annual proxy voting policy update process. These guidelines will be effective for shareholder meetings held on or after January 1, 2022.
Governance Advisory Update: ISS Publishes Results from Recent Policy Surveys
On October 1, Institutional Shareholder Services (“ISS”) published the results of two global policy surveys it conducted with market participants as part of its annual policy development process.

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.
