UPDATE 1-Shareholder adviser ISS backs rebel investor in Alliance Trust row

April 16, 2015 12:56 PM

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LONDON, April 16 (Reuters) - Shareholder advisory group Institutional Shareholder Services Inc (ISS) has weighed in to the debate about governance at Alliance Trust by backing a board overhaul plan proposed by activist shareholder Elliott Advisors.

Alliance Trust, one of the oldest investment companies in Britain, is seeking to marshal its large 'mom and pop' investor base to fight off Elliott's plan to elect three new non-executive directors at its annual general meeting on April 29.

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