MacKay Shields - 1792 Exchange

Rating Overview

MacKay Shields is Medium Risk.

MacKay Shields, a subsidiary of New York Life, is Medium Risk. The company often yields to political activism in shaping corporate governance, potentially alienating consumers, dividing employees, and harming shareholders. The company elevates merit, excellence, and integrity ahead of race and identity-based policies. MacKay Shields occasionally embraces corporate initiatives that redirect its central focus from business goals to partisan policies and divisive issues at times. This approach fails to safeguard free exercise, free speech, and free enterprise.

Rating Criteria

Corporate Weaponization Risk Levels
Criteria	Risk Level
Cancellations	Medium Risk
Discriminatory Philanthropy	Lower Risk
Employment Protection	Medium Risk

Corporate Weaponization ⓘ

Corporate Governance and Public Policy Risk Levels
Criteria	Risk Level
Advocacy Bias	High Risk
Funding	Lower Risk
Political Actions	No Data

Corporate Governance and Public Policy ⓘ

Rating Criteria Detail

Criteria Risk Level Rationale

Corporate Weaponization

Criteria:

Has canceled customers, suppliers, or vendors due to their political views or religious beliefs OR corporately boycotts, divests, or sanctions regions, people groups, or industries.

Risk Level:

Medium

Rationale:

MacKay Shields is a signatory of the Principles for Responsible Investment, incorporating ESG issues into investment analysis, decision-making, and other business practices (1)(2). However, MacKay Shields has not canceled customers, suppliers, or vendors based on political views or religious beliefs (3).

Criteria:

Charitable giving (including employee matching programs) policies or practices discriminate against charitable organizations based on views or religious beliefs.

Risk Level:

Lower

Rationale:

MacKay Shields does not publish charitable giving guidelines. New York Life, the parent company of MacKay Shields, does not appear to discriminate against charitable organizations based on views or beliefs. New York Life’s charitable giving focus areas are “Educational enhancement, Childhood bereavement, Local area grants, Workplace grants” (1)(2)(3).

Criteria:

Employment policies fail to protect against viewpoint or other discrimination and/or are ideological in nature.

Risk Level:

Medium

Rationale:

MacKay Shields does not provide viewpoint protections for its employees (1).

Corporate Governance and Public Policy

Criteria:

Uses corporate reputation to support causes, organizations, or policies hostile to freedom of expression.

Risk Level:

High

Rationale:

New York Life Insurance, the parent company of MacKay Shields, scored a 100 out of 100 on the 2025 Corporate Equality Index (CEI) from the Human Rights Campaign (HRC), a political stakeholder group (1)(2). MacKay Shields supports DEI and ESG within its business practices. From an interview with its head of Business Response Team: “We have definitely seen a lot more intense operational due diligence questionnaires and ones that are focused on DEI and ESG” (3). MacKay Shields supports ESG within its business practices. From its info page: “we believe that consideration of material environmental, social, and governance (“ESG”) factors can have an impact on long-term investment performance and, therefore, is a natural and important component of disciplined investment research and management of client portfolios” (4).

Criteria:

Uses corporate funds to advance ideological causes, organizations, or policies hostile to freedom of expression.

Risk Level:

Lower

Rationale:

MacKay Shields has not used corporate funds to advance ideological causes, organizations, or policies (1).

Criteria:

Uses corporate political actions and/or financial contributions for ideological, non-business purposes.

Risk Level:

N/A

Rationale:

MacKay Shields does not operate a PAC or engage in lobbying at this time (1)(2)(3).