Deutsche Bank goes live with Proxymity digital proxy voting
10 May 2021
- Proxymity platform now servicing Deutsche Bank's clients in 10 territories
- Investment in Proxymity technology is expected to facilitate better informed environmental, social and governance (ESG) decisions
- Clients set to benefit from speed of vote execution as AGM season gets underway
Deutsche Bank announced today that its connection with Proxymity, the digital investor communications platform it invested in in 2020, is now live and servicing clients.
Proxymity's electronic proxy voting solution for issuers, intermediaries and institutional investors provides post-meeting vote confirmation. For strict compliance with regulations such as the Shareholder Rights Directive (SRD II), which is advocating message standardisation in shareholder voting, Proxymity’s solutions use industry standard digital formats (ISO 20022).
This means that as the 2021 shareholder meeting season gets underway with a wider participation being permitted through electronic means, Deutsche Bank - via Proxymity’s platform – offers clients these ISO2022 formats across 10 markets: Portugal, Netherlands, Belgium, France, Germany, Austria, Italy, Spain, Hungary and the Czech Republic.
Deutsche Bank clients will also benefit from Proxymity’s vote execution directly to an issuer or issuer agent in Portugal, Netherlands, Belgium and France, with real-time “golden source” meeting announcements flowing directly from issuers to clients of Deutsche Bank.
Paul Maley, Deutsche Bank Global Head of Securities Services, said: “We invested in Proxymity last year because we believed that the time was right to transform the industry with new digital solutions for asset servicing and custody that remove the need for manual operations, making all participants more efficient and responsive. We are pleased to see rapid progress from this exciting fintech solution and look forward to extending these benefits to all our clients.”
Deutsche Bank is part of a global consortium that invested in Proxymity after recognising the advantages of an industry-backed solution for the market at large, in light of automation trends in corporate governance and the growing focus of global regulation on digital transparency.
Addressing the ever-increasing interest in ESG, votes sent electronically remove the need to travel to meetings in person, and dramatically reduce paper waste. These direct environmental impacts clearly demonstrate the value of digital transformation of the industry during and beyond the Covid-19 pandemic.
Jonathan Smalley, Co-Founder and COO of Proxymity, said: “We are proud of the outstanding effort from both the Deutsche Bank and Proxymity teams in ensuring the solution is available to clients this season. With cooperation from Deutsche Bank and our consortium of global partners we continue to accelerate our mission to provide unprecedented transparency and efficiency for the market.”
For further information please contact:
Deutsche Bank AG
About Deutsche Bank
Deutsche Bank provides retail and private banking, corporate and transaction banking, lending, asset and wealth management products and services as well as focused investment banking to private individuals, small and medium-sized companies, corporations, governments and institutional investors. Deutsche Bank is the leading bank in Germany with strong European roots and a global network.
Proxymity's pioneering investor communications platform connects issuers, intermediaries and investors in real-time via its unique digital pathway, bringing efficiency, accuracy and transparency to every participant in the global custody chain.
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.
Proxymity promotes enhanced environmental, social, and corporate governance (ESG) by improving communication between issuers and investors and making it easier for intermediaries to be efficient, timely and compliant when servicing their clients.
The company is backed by a global consortium of the industry's most influential financial institutions (BNY Mellon, Citi, Clearstream, Computershare, Deutsche Bank, HSBC, J.P. Morgan, State Street).
For more information, visit www.proxymity.io
Proxymity press contact: firstname.lastname@example.org