LONDON, October 25, 2022 (Newswire.com) - Citi Securities Services has today announced the launch of Vote Connect Total, a digital proxy voting service provided by Proxymity, in Australia and New Zealand.
As part of this arrangement, Proxymity will manage the full life cycle of proxy voting services for Citi clients in the Australian and New Zealand markets, delivering an innovative, digital solution. The successful deployment follows similar rollouts across Europe, with others set to follow into next year.
Proxymity Vote Connect Total is the digital proxy service powered by Proxymity's investor communications platform. The service allows 'golden source' meeting announcements and agendas to be published directly from issuers to investors. Investors can then send votes in real time to issuers or their agents without the need for manual intervention, and receive true digital confirmation that their votes have been cast, helping everyone in the ecosystem save both time and money.
Proxymity's digital-native platform has been built on highly scalable technology which allows secure end-to-end connectivity between issuers, issuer agents, custodians, and investors, providing transparency to all participants in the proxy voting chain.
Mark England, Head of Securities Services for Citi in Australia and New Zealand and APAC Co-Head of Sales for Securities Services, said, "Investor communications are being transformed by replacing manual processes with modern digital automation".
"Our long-term partnership with Proxymity reflects our commitment to providing the most innovative solutions to improve client experience and create efficiency in the market", he added.
Proxymity was supported by Citi's D10XSM program, an internal accelerator that supports the creation, development and launch of new concepts by employees across Citi's businesses. The platform was first launched in the U.K. in 2018, following a collaborative pilot partnership, and the company was spun out by Citi in April 2020.
Dean Little, Co-Founder and CEO of Proxymity, said: "We are proud to grow and deepen our working relationship with Citi, who have been with us on this journey from the beginning. By enabling them to extend Proxymity's solutions to their blue-chip clients in Australia and New Zealand, together we've delivered another great milestone for Citi clients in the APAC region".
Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.
With over US$25 trillion of assets under custody, administration and trust, and an industry-leading proprietary network spanning 63 markets, Citi Securities Services provides clients with in-depth local market expertise, advanced processing technologies, and a wide range of custody and fund services that can be tailored to meet clients' needs.
Additional information may be found at www.citigroup.com | Twitter: @Citi | YouTube: www.youtube.com/citi | Blog: http://blog.citigroup.com | Facebook: www.facebook.com/citi | LinkedIn: www.linkedin.com/company/citi.
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 offers two solutions suites: Vote Connect, a fully digital proxy voting solution allowing meeting data, votes and more to be sent and received in real-time; and Shareholder ID, a fully automated shareholder disclosure solution that aids regulatory compliance.
Our solutions give public companies confidence that their AGM/EGM agendas are transmitted as "golden source" and provide institutional investors with the time they need 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).
The company is backed by a global consortium of the industry's most influential financial institutions, representing seven of the world's top 10 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.
Source: Proxymity Ltd.