Proxymity, an online investor communications platform, and MUFG Pension and Market Services have expanded their partnership into the Australian market.
The two firms have announced the rollout of Proxymity’s platform to all Australian clients of MUFG Corporate Markets, a division of MUFG Pension and Market Services.
This follows a successful collaboration between the two firms in the UK and Ireland.
The deal means that they can now receive custodial votes in Australia through Proxymity’s platform, which allows for the efficient delivery of AGM announcements and custodian votes electronically.
The partnership between MUFG and Proxymity will also enable all issuers who utilise MUFG Corporate Markets’ registry services to receive custodian votes via Proxymity’s platform.
With Proxymity already having worked with companies such as Citi, JP Morgan and HSBC in Australia, it is expected that over 60 per cent of issuers in the local market will connect with the digital network.
“Following our successful collaboration in the UK and Ireland, we are pleased to extend our partnership to Australia. MUFG Pension and Market Services’ connection to the Proxymity platform will improve our client’s ability to communicate effectively with their investors around the world, and is extremely important as issuers and investors navigate the challenges of today’s world,” said Dean Little, co-founder and chief executive of Proxymity.
Meanwhile, MUFG Corporate Markets CEO Lysa McKenna explained that the expansion of its partnership with Proxymity in Australia has helped enhance its aim to deliver new solutions.
She said: “By partnering with Proxymity, we are providing more streamlined communication between our clients and their institutional investors. This partnership aligns us with global best practices through increased transparency and efficiency, empowering our clients to navigate meeting complexities with greater confidence and agility.”
Earlier this month, it was announced that MUFG Pension and Market Services had fully acquired Moneysoft, an Australian digital solutions provider for financial advisers, on 9 September. This meant it now sits under the MUFG Retirement Solutions business – a division of MUFG Pension and Market services.
Moneysoft is a technology platform for financial planners, money coaches, mortgage brokers and retirement funds that offers financial data for cash flow management and household finance control.
MUFG Pension and Market Services is part of the global Mitsubishi UFJ Financial Group (MUFG), which assists with regulatory complexity and improves data management.
Commenting on the purchase at the time, Dee McGrath, chief executive of MUFG Retirement Solutions, said Moneysoft’s cloud-based capabilities and financial advice automation will help its clients to create meaningful engagement with members, particularly around retirement planning.
