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Advisory firms split recommendations on HomeStreet director nominee


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Advisory firms split recommendations on HomeStreet director nominee

Proxy advisory firms disagreed on the nomination of one director at Seattle-based HomeStreet Inc.

Glass Lewis & Co. recommended that shareholders vote for all three of HomeStreet's director nominees, while Institutional Shareholder Services recommended voting against director nominee Scott Boggs.

Both proxy advisory firms recommended voting for Douglas Smith and Mark Patterson. Activist investor Roaring Blue Lion Capital Management LP has urged HomeStreet's shareholders to vote against the appointment of Boggs and Smith.

Roaring Blue Lion had previously pushed for the election of Ronald Tanemura and Paul Miller to HomeStreet's board. The investor later lost a preliminary court battle to nominate its own representatives to HomeStreet Inc.'s board.