State Street will transition proxy voting clients to Proxymity’s market leading Investor Portal

Migration will further enable institutional investors to streamline their proxy voting process

London, United Kingdom – 28 January 2025: Proxymity, the leading digital investor communications platform, today announces an important client migration project with State Street Corporation. State Street will transition a significant portion of proxy voting clients from its existing platform to Proxymity’s market-leading Investor Portal.

This migration will enable institution investors across multiple markets to use Proxymity’s Investor Portal. Proxymity’s digital connectivity across the investor communications ecosystem enhances efficiency, provides real-time transparency, and eliminates artificial deadlines for investors, allowing State Street clients to experience vastly improved transparency whilst reducing risk.

State Street currently utilises Proxymity’s solutions in other markets, and this planned migration will extend proxy voting processed through Proxymity across additional operations.

The next phase of the migration will initially cover fourteen markets, including the United Kingdom, France, Netherlands, Spain and Australia amongst others, with Germany to follow in March 2025.  State Street will continue to migrate markets to Proxymity in a phased approach over the next 18 months.

As part of this migration, Proxymity will also provide a seamless interoperable model for clients using vote advisory and pass-through voting agents including Institutional Shareholder Services, Glass Lewis and Tumelo, ensuring full coverage across State Street’s client base.

Institutional investors will also benefit from the industry-leading technology Proxymity offers with this migration, directly connecting investors with issuers in a secure, transparent, and real-time environment. This ensures the efficient flow of data, reducing the chance of third-party delays or errors, and providing SSB clients with much better service conditions, particularly for Annual General Meetings and other critical voting events.

State Street’s decision to migrate to the Proxymity platform was driven by increasing demands for transparency and shorter chains of custody in voting processes, offering enhanced capabilities for their clients while ensuring adaptability to future market changes.

Dean Little, CEO and co-founder at Proxymity, said: “We are thrilled to continue our work with State Street on this transformative migration, the largest of its kind for Proxymity to date. This significant milestone showcases our commitment to bringing real-time transparency, efficiency, and accuracy to institutional investor communications. By eliminating manual processes and artificial deadlines, we’re delivering a seamless, more reliable proxy voting experience for State Street’s clients globally. We look forward to continuing this partnership and expanding the benefits of our Investor Portal.”

Chris Rowland, Head of Custody, Digital and Fund Services at State Street, said: “The migration to Proxymity’s Investor Portal is another important action forward to ensure our clients have access to the most advanced proxy voting technology available. Our experience with Proxymity has demonstrated the benefits of real-time transparency, efficiency, and risk reduction in proxy voting. We are excited to extend this partnership across our global markets, providing our clients with the best-in-class solutions that Proxymity consistently delivers.”

This story was originally published on Newswire.