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, 11 DECEMBER 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 the 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, digitising 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 characterise 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.