This collaboration marks a major milestone in Proxymity's mission to transform
shareholder communications benefiting both corporates and investors
Vote Connect Global ensures timely communication with 75% of ballots generated for Citi's clients having a market deadline offset of 1 day or less
Investors receive the market deadline date for 31% of total ballots
LONDON, GB / ACCESSWIRE / December 11, 2024 / Proxymity, the leading digital investor communications platform, today announces the launch of its Vote Connect Global (VCG) services in collaboration with Citi, one of the world's largest global custodians.
This marks a significant milestone in streamlining corporate governance activities for Citi's institutional investor clients. VCG provides comprehensive global coverage, delivering unparalleled efficiency and transparency to investors worldwide.
The adoption of VCG complements Citi's use of Proxymity's Vote Connect Total Services, which the bank has deployed in over 22 direct markets. Together, these solutions provide an end-to-end digital proxy voting solution for Citi's clients. With the addition of VCG, clients with a global Citi relationship can significantly simplify proxy voting across their network.
Using VCG, Citi has enhanced its service to clients that have adopted the solution. Notably, 98% of in-flight ballots benefited from deadline improvements, with 75% one day prior to market deadline or less, and 31% on the actual market deadline date.
This highlights the results, performance and reliability that market participants can unlock through the Proxymity platform, empowering investors by giving them enhanced control and providing a more efficient voting process. The solution also enables on demand recycling of positions and the most competitive instructions deadlines in the market.
Dean Little, Co-Founder and CEO, Proxymity, said: "We are delighted to announce our Vote Connect Global collaboration with Citi. This collaboration represents a significant step forward in our shared commitment to enhancing efficiency and transparency in the proxy voting process, ultimately benefiting investors worldwide."
Jeff King, Global Head of Custody Asset Servicing Product Management, Securities Services, Citi, said, "By expanding our suite of Proxymity solutions, Citi is delivering efficiencies to our clients through real-time capabilities, increased transparency and enhanced speed and quality of data. With Vote Connect Global, we are bringing these benefits to clients that have global relationships with Citi, digitizing proxy voting across their footprints. With a custody network of over 100 markets worldwide, this further differentiates the power of Citi's network through innovation and our collaboration with Proxymity."
Various adopters of Proxymity characterize the migration to its platform by its smooth and seamless implementation, with investors experiencing noticeable benefits post-transition. These include improved market deadlines, "golden source" meeting announcements, real time ballots and transparent vote statuses, helping to deliver a more transparent process and faster notifications that aid decision-making.
ENDS
Notes to Editors
For more information, please contact: Sapience Communications:
Richard Morgan Evans / Juliette Alliata / Travis Pilling 0203 327 8422 | proxymity@sapiencecomms.co.uk
About Proxymity:
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 25 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 2024".
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
About Citi:
Citi is a preeminent banking partner for institutions with cross-border needs, a global leader in wealth management and a valued personal bank in its home market of the United States. Citi does business in more than 180 countries and jurisdictions, providing corporations, governments, investors, institutions and individuals with a broad range of financial products and services.
Additional information may be found at www.citigroup.com | X: @Citi | LinkedIn: www.linkedin.com/company/citi | YouTube: www.youtube.com/citi | Facebook: www.facebook.com/citi
Contact Information
Sapiene Communications
PR Team
proxymity@sapiencecomms.co.uk
0203 327 8422
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SOURCE: Proxymity Limited
View the original press release on accesswire.com
