Broadridge automates Santander’s Shareholder General Meeting services in Spain

Rick Steves

Broadridge has recently 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.

Profit of Banco Santander

Broadridge Financial Solutions, Inc. has partnered with Santander to make available a new Spanish issuer “golden copy” event notification and vote execution service for the Spanish market.

Santander Investment S.A, a subsidiary of Banco Santander, specializes in Shareholder General Meeting services in Spain and Broadridge’s solution provides a fully automated solution with market-wide coverage.

Service for custody banks, brokers, and wealth managers in Spain

Broadridge’s fast-growing Direct Market Solutions (DMS) product suite focuses on streamlining traditional voting processes by directly connecting investors and issuers, while improving market error rates, expanding voting windows and facilitating vote confirmations.

The service targets custody banks, brokers, and wealth managers operating in Spain who will be able to enhance their service offering to their underlying clients while reducing their operating costs.

Furthermore, Spanish financial intermediaries obtain a one-stop-shop SRD II compliance solution without the need for major integration or change of operating models.

Luis Antonio Pérez, Executive Director of Corporate Trust Services, Santander Investment, said: “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. 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.

Demi Derem, GM, International Investor Communication Solutions at Broadridge, commented: “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. 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 has recently 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.

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