Andrew Freedman Quoted in S&P Global on the Surge of Shareholder Activism at Nonbank Financial Institutions

Olshan Co-Managing Partner and Chair of the firm’s Shareholder Activism Practice Andrew Freedman was quoted in a S&P Global article on the surge of shareholder activist campaigns at nonbank financial institutions throughout 2023 and continuing in 2024. In 2023, activists launched 115 campaigns targeting nonbank financial institutions and have already launched 101 such campaigns in the first half of 2024. Andy explained that shareholders are targeting increasingly visible underperforming companies to maximize their gains and spur turnarounds. He added that, unlike before, shareholders are no longer waiting for the January-to-March window just before the nomination deadline for companies’ annual meetings to launch campaigns. “There’s been much more activity this summer than we’ve seen in the past,” Andy said. Overall, he noted, the number of investors willing to engage is shareholder activism is climbing.