Proxymity and State Street launch digital proxy voting service in UK & Ireland
LONDON, 28 March 2023 – Proxymity, the leading digital investor communication platform, today announced that State Street, one of the world’s leading providers of financial services to institutional investors, has deployed its digital proxy voting service, Vote Connect Total, in the UK and Ireland in time for the 2023 proxy season.
Vote Connect Total, the digital proxy solution powered by Proxymity’s investor communications platform, enables issuers to publish “golden source” meeting announcements and agendas directly to investors. Investors receive near real-time ballots together with improved deadlines, and instant delivery of votes, allowing investors more time to engage with issuers, without the need for manual intervention, including verifiable proof that their votes have been cast at the meeting.
Proxymity’s deep integration with State Street’s operational teams will provide continued access to state of the art investor relations services for the firm’s clients. The end-to-end digital connection will enable State Street’s clients that invest in the UK and Ireland to significantly extend their voting deadlines while enhancing transparency, accuracy, and speed, all in compliance with current regulations, including the EU Shareholder Rights Directive (SRD II).
Since 2020, State Street has utilized Proxymity’s Shareholder ID solution, which allows the firm to automate its shareholder responses, with full oversight, reporting and exception management processed by Proxymity’s platform.
Chris Rowland, global head of custody at State Street said, “We are delighted to be extending our relationship with Proxymity. We remain committed to bringing solutions to our clients to connect issuers and investors through a transparent, accurate and real-time environment.”
Dean Little, Co-Founder and CEO, Proxymity, said: “We are thrilled to be expanding our partnership with State Street, as a highly valued and integral member of our investor consortium. As we grow our fruitful collaboration in connecting additional markets to the Vote Connect platform, we continue to extend the benefits of truly digital, real-time communication throughout the entire ecosystem.”
Adopted by over 60% of FTSE 100 companies, Proxymity connects the world’s ecosystem of issuers, intermediaries, and investors digitally in real time, bringing unprecedented transparency, efficiency, and accuracy to traditional paper-based processes. Trusted by the world’s largest financial institutions, it is the leading digital investor communications platform, serving over twenty-five markets world-wide. Proxymity’s ground-breaking technology has also been recognised industry-wide, with recent awards including FSTech’s “Most Disruptive Technology in the FinTech Sector” and GC Magazine’s “FinTech of the Year 2022”.
Our solutions give public companies confidence that their AGM/EGM agendas are transmitted as “golden source” and provide institutional investors with the time to research and vote on corporate decisions, as well as actual digital confirmation that their votes have been received. The digital-native platform, built on highly scalable technology, provides full compliance with the latest regulations such as the Shareholder Rights Directive (SRD II).
Proxymity promotes enhanced environmental, social, and governance (ESG) by improving communication between issuers and investors while making it easier for intermediaries to provide efficient, timely and compliant client service.
The company is backed by a global consortium of the industry’s most influential financial institutions, representing seven of the world’s top ten Global Custodians managing over $200 trillion in assets under custody (BNP Paribas, BNY Mellon, Citi, Computershare, Deutsche Bank, Deutsche Börse, HSBC, J.P. Morgan, Mediant, State Street).
For more information, visit www.proxymity.io.
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