Proxymity was founded by Dean Little and Jonathan Smalley, two veterans of the custody business within Citigroup’s Institutional Clients Group in London. With over 30 years combined industry experience in custody and asset servicing product development, they recognised an opportunity to reinvent proxy voting within the existing corporate governance ecosystem, bringing unprecedented efficiency and transparency to the market.
Proxymity’s founders were 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.
From an early stage, however, it was felt that for Proxymity to have the largest impact possible that it should be backed by the industry as a whole rather than be owned by one company. To support this vision, in May 2020 some of the world’s largest financial institutions joined together to invest in the platform and establish Proxymity as an independent business.