Broadridge and Santander Collaborate to Transform Proxy Voting for Spanish Market Investors

Rhea-AI Summary

Broadridge Financial Solutions (NYSE:BR) has launched a new automated voting service for the Spanish market in collaboration with Santander Investment S.A. This service aims to streamline the voting process, reduce error rates, and enhance service offerings for custody banks and brokers in Spain. It aligns with Broadridge's Direct Market Solutions product suite, assuring full compliance with SRD II regulations. With a revenue of $5 billion and a global trading infrastructure supporting over $9 trillion, Broadridge continues to innovate in corporate governance and financial communications.

Positive

• Launch of a new automated voting service for the Spanish market in partnership with Santander Investment.
• Service aims to improve market error rates and enhance voting processes.
• Expands Broadridge's Direct Market Solutions product suite, emphasizing innovation in corporate governance.
• Provides a one-stop-shop compliance solution for Spanish financial intermediaries.

Negative

• None.

NEW YORK and LONDON and MADRID, Jan. 25, 2022 /PRNewswire/ -- Broadridge Financial Solutions, Inc. (NYSE:BR) today announced the live availability of a new Spanish issuer "golden copy" event notification and vote execution service for the Spanish market.  The service, delivered in collaboration with Santander Investment S.A., the leader in Shareholder General Meeting services in Spain, provides a fully automated solution with market-wide coverage.

The launch of the service in Spain is the latest market-ready extension to Broadridge's fast-growing Direct Market Solutions (DMS) product suite, which focuses on streamlining traditional voting processes by directly connecting investors and issuers. The service is set to improve market error rates, expand voting windows and facilitate vote confirmations. It will enable custody banks, brokers and wealth managers operating in Spain to enhance their service offering to their underlying clients while reducing their operating costs. The collaboration will also allow all Spanish financial intermediaries to obtain a one-stop-shop SRD II compliance solution without the need for major integration or change of operating models.

"Our collaboration with Broadridge will transform the voting process for the Spanish market through a more direct end-to-end chain of communications between issuers and investors," said Luis Antonio Pérez, Executive Director of Corporate Trust Services, Santander Investment. "By removing avoidable steps from the overall lifecycle, the proxy process will become more efficient and less prone to the risks associated with multiple break points.

"We are delighted to be partnering with Santander in this innovative market solution designed to improve efficiency and deliver the highest standards of corporate governance in Spain," said Demi Derem, GM, International Investor Communication Solutions at Broadridge. "This is the latest in our ongoing series of local market innovations that focus on industry leading partnerships aimed at improving the overall voting ecosystem.

Broadridge recently announced its expanded coverage for proxy processing and extended voting windows for 20 sub-custody markets in 2021, with more markets to follow in 2022 and 2023. This complements Broadridge's existing leading global voting solutions that already provide 100% coverage across 100+ markets.

About Broadridge

Broadridge Financial Solutions (NYSE: BR), a global Fintech leader with $5 billion in revenues, provides the critical infrastructure that powers investing, corporate governance, and communications to enable better financial lives. We deliver technology-driven solutions that drive business transformation for banks, broker-dealers, asset and wealth managers and public companies. Broadridge's infrastructure serves as a global communications hub enabling corporate governance by linking thousands of public companies and mutual funds to tens of millions of individual and institutional investors around the world. Our technology and operations platforms underpin the daily trading of more than $9 trillion of equities, fixed income and other securities globally. A certified Great Place to Work^®, Broadridge is part of the S&P 500^® Index, employing over 13,000 associates in 21 countries. For more information about us, please visit broadridge.com.

About Banco Santander

Banco Santander (SAN SM, STD US, BNC LN) is a leading retail and commercial bank, founded in 1857 and headquartered in Spain. It has a meaningful presence in 10 core markets in the Europe, North America and South America regions, and is one of the largest banks in the world by market capitalization. Its purpose is to help people and businesses prosper in a simple, personal and fair way. Santander is building a more responsible bank and has made a number of commitments to support this objective, including raising over €120 billion in green financing between 2019 and 2025, as well as financially empowering more than 10 million people over the same period. At the end of the first half of 2021, Banco Santander had €1.1 trillion in total funds, 150 million customers, of which 24.2 million are loyal and 45.3 million are digital, 10,000 branches and 190,000 employees.

Investors:
W. Edings Thibault
Investor Relations
+ 1 516-472-5129
Edings.thibault@broadridge.com

Media:
Gregg Rosenberg
Corporate Communications
+1 212-918-6966
Gregg.rosenberg@broadridge.com

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SOURCE Broadridge Financial Solutions, Inc.

FAQ

What is Broadridge Financial Solutions' new service in Spain?

Broadridge has introduced an automated voting service in Spain to streamline the voting process and reduce errors.

How will Broadridge's new service benefit Spanish financial intermediaries?

The service will enhance their offerings and provide a comprehensive compliance solution without requiring major operational changes.

What is the significance of Broadridge's collaboration with Santander Investment?

The collaboration helps improve the proxy voting process efficiency, benefiting both issuers and investors.

What is Broadridge's revenue as mentioned in the press release?

Broadridge Financial Solutions reports revenues of $5 billion.

What is Broadridge's role in global financial markets?

Broadridge provides critical infrastructure for investing and corporate governance, facilitating over $9 trillion in securities trading.