ADP Launches Solution for Auto-Proxy Voting According to Governance Policies
ProxyEdge® Now Features Integrated Recommendations From Glass Lewis
NEW YORK, New York -- November 8, 2006 -- 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.
About ADP Brokerage Services Group
As the premier provider of transaction services to the financial industry, ADP has the capacity and technological expertise to assist its clients in differentiating themselves in the marketplace. ADP brings to financial intermediaries advanced, integrated systems for securities processing, desktop productivity and investor communication services, all focused on providing solutions for straight through processing and World Class Service.
ADP, with $9.0 billion in revenues and more than 570,000 clients worldwide, is one of the largest providers of a broad range of premier, mission-critical, cost-effective transaction processing and information-based business solutions. For more information about ADP Brokerage Services Group, please visit www.bsg.adp.com and for other ADP services and investor information, please visit www.adp.com.
About Glass Lewis
Glass, Lewis & Co, LLC is a leading investment research and professional services firm, serving institutions that collectively manage more than $13 trillion. Glass Lewis helps institutional investors make more informed investment and proxy voting decisions by identifying business, legal, governance and financial statement risk at more than 13,000 companies worldwide. Founded in 2003, Glass Lewis is headquartered in San Francisco with offices in New York, Denver, London, Sydney and Tokyo. For more information, go to www.glasslewis.com.
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- Dorothy Friedman
- ADP Brokerage Services Group
- Automatic Data Processing, Inc.
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