Deutsche Bank Singapore has officially gone live with a proxy voting solution from Proxymity, the digital investor communications platform, in a move to enhance the democratic processes it offers to shareholders.
Deutsche Bank Singapore selected the Proxymity Vote Connect Global (VCG) product, making it the first client to launch the system in Asia. Proxymity’s VCG product is live for both the Singapore domestic market but also where Deutsche Bank Singapore acts as a global hub providing access to global markets.
Launched at last September’s Sibos event in Toronto, Canada, Proxymity’s VCG is a proxy voting solution that enables complete coverage of general meetings for financial intermediaries operating globally.
Leveraging Proxymity’s ‘golden source’ issuer announcements and intermediary networks, with the ability to source meetings from, and send voting instructions to, any local intermediary, VCG connects with local intermediaries worldwide.
Dean Little, co-founder and CEO of Proxymity, commented: “Following our 2023 Global Custodian ‘Leaders in Custody’ award for innovation in the Asia region, we are excited to deliver on our mission to revolutionise investor communication globally to the region. With this partnership, we’re actively solving the challenges faced by shareholders, issuers, and intermediaries, to pave the way for true global shareholder democracy.”
Enhancing investor communication
According to The Economist, the percentage of global activist demands in Asia overtook Europe in 2023, highlighting an increased need for accessible digital investor communications.
Addressing this demand, Deutsche Bank remains committed to improving shareholder democracy, with VCG enhancing transparency, accuracy, and speed.
Deutsche Bank Singapore can now access faster notifications, better deadlines, and real-time voting position data across their agent network of over 60 markets, positioning them at the forefront of the corporate governance revolution in Asia where regulators are taking steps to strengthen board governance.
Anand Rengarajan, managing director, global head of sales and head of Asia Pacific, securities services at Deutsche Bank, also said: “We are delighted to expand our relationship with Proxymity. Deutsche Bank is transforming its post trade services, and our partnership with Proxymity and its innovative technologies enables us to craft the latest and best in class service offerings for our clients.”
By leveraging Proxymity’s technology, Deutsche Bank also aims to provide clients with unparalleled transparency, accuracy, and speed in investor communications. This collaboration sets new benchmarks for efficiency and integrity in investor communications, elevating standards across Singapore and the wider global markets.
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