The Corporate Library, an independent firm providing U.S. corporate governance research, advisory and risk analysis solutions, and GovernanceMetrics International (GMI), an independent provider of investment-focused corporate governance research and ratings for global corporations, announced they have merged as of July 22.

This merger creates the world’s leading independent firm dedicated to the development and sale of corporate governance risk ratings; environmental, social and corporate governance (ESG) advisory and analytical services; and a suite of online global governance information products and services for the investment market.

The combination of The Corporate Library and GMI provides in-depth coverage of a universe of more than 5,400 companies, including the largest North American public companies; the MSCI World and MSCI EAFE Indices; and industrialized Asia-Pacific, industrialized European and emerging markets. The combined company’s clients include institutional investors, money managers, insurance underwriters, investment banks, major accountancies, search firms, law firms, academic institutions, credit rating agencies, corporations and consultancies.

“The financial crisis has catapulted ESG information on public companies into the spotlight,” said Nell Minow, Editor and Co-Founder of The Corporate Library. “As a combined entity, The Corporate Library and GMI provide a unique suite of services and products to meet the global ESG risk analysis needs of investment professionals and other stakeholders.”

Howard Sherman, recent CEO of GMI, has become executive director and head of global business development of the combined entity. Gavin Anderson, recent chairman and former CEO of GMI, will join the board of the new firm and continues to play a role in its business development. In creating the new firm’s board of directors, Sherman and Anderson join with The Corporate Library’s board, including Richard Bennett, John Higgins, Ric Marshall and renowned governance pioneers Nell Minow and Robert A. G. Monks. GMI Research Director John Jarrett will now take on the added role of chief operating officer for the GMI unit.

Unlike many recent transactions in the corporate governance ratings market, the merger between The Corporate Library and GMI is undertaken as an opportunity to create a base upon which to grow a combined, independent business. The combined entity has no immediate plans to change either of the prior companies’ systems or products.

Over the coming months, the new firm will explore potential opportunities for integrated services and products driven by market demand. As a combined firm, The Corporate Library and GMI will continue to operate principally from New York City and Portland, Maine, and the unique corporate brands of both firms will remain intact.

More information about the merger can be found here.