BNY Mellon rolls out Proxymity’s VCT in the UK 14 December 2023UK Reporter: Lucy Carter
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BNY Mellon has adopted Proxymity’s digital proxy voting service, Vote Connect Total (VCT), for UK clients in advance of the 2024 voting season.
VCT provides an end-to-end digital connection that improves the accuracy, speed and transparency of the voting process, Proxymity says. BNY Mellon clients will be able to leverage golden source data and deliver investor communications in real-time.
The service also facilitates a wider voting window, extended meeting deadlines for connected issuers and includes access to Proxymity’s post-meeting vote confirmation service.
This announcement follows the firms’ rollout of VCT in France and Belgium earlier this year, and marks the third major global custodian to connect to the platform in the UK.
Dean Little, co-founder and CEO of Proxymity, says: "Today’s announcement demonstrates BNY Mellon’s and Proxymity’s shared goal of realising true democracy of information to all shareholders.
“This is not just about enhancing a process; it's about reshaping investor communications across the globe. Together, we are setting a new standard, reinforcing our role as conveners for issuers, intermediaries and investors alike."
Adam Watson, head of commercial product for custody services at BNY Mellon, comments: “Collaborating with Proxymity to deliver this proxy voting solution will improve transparency, accuracy, and speed for our clients. It is part of our commitment to providing real-time, flexible, and effective digital solutions to clients in the UK and beyond.”
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