Penrose scoops fund adviser brief

Penrose Financial has won a brief to represent Maryland-based Institutional Shareholder Services (ISS), which helps US and British pension funds make decisions on investment issues.

The award of the UK account comes as the company's owner, private-­equity firm Warburg Pincus, put ISS up for sale for at least £210m.

Penrose pitched for the brief around 12 months ago, but - unusually - incumbent Fleishman-Hillard continued to represent ISS for a further year, before handing over to Penrose.

Penrose MD Gay Collins heads the account.

ISS was sold five years ago by financial services data provider Thompson Financial for around £24m.

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