Source: ADP Brokerage Services
ADP Investor Communication Services (ICS), a division of Automatic Data Processing's (NYSE: ADP) Brokerage Services Group, today announced the launch of an enhanced version of its ProxyEdge® proxy voting tool for institutional investors and investment companies, featuring fully-integrated vote recommendations and research from Glass, Lewis & Co., a leading independent provider of global proxy analysis and voting services.
The enhancement provides ProxyEdge® users with a turnkey, web-based solution for the auto-execution of ballots according to one or more specially designed governance policies. These standard policies were created by Glass Lewis to meet the requirements of all institutional investors.
ADP understands how important it is for investors to have the tools necessary to ensure that the hundreds or thousands of proxies they are responsible for voting each year are voted thoughtfully, accurately and in a timely fashion.
"The 2,700 institutions that make ProxyEdge the most widely used voting tool in the world today use it because it makes the entire voting process more efficient in terms of cost, time and compliance," said Geoff de Lesseps, Senior Vice President of ADP ICS. "We are always looking to increase the value we deliver to our clients. Providing them with this best-of-breed integrated solution delivers a whole new level of efficiency and choice."
In addition to executing ballots according to the standard policies, users also have the option to vote with Glass Lewis recommendations or have Glass Lewis implement a custom policy tailored to an investor's specifications.
"This is the logical next evolution of ProxyEdge's existing standing instructions functionality for institutional investors," said Kevin Cameron, President of Glass Lewis. "Allowing institutions to choose from a variety of standard guidelines that meet their policy requirements or providing them with a new way to implement a set of custom guidelines should allow more market participants the ability to consistently and efficiently meet their voting objectives."
The integration of Glass Lewis analysis into ProxyEdge® is part of ADP's ongoing effort to give clients better, more flexible solutions for managing the entire proxy compliance process. ADP looks forward to making decision support tools from other leading providers available on its platform.