Caceis, the asset-servicing bank, has appointed Broadridge Financial Solutions to manage increased proxy voting requirements.

The appointment is by Caceis’s German branch and takes place due to the updated Shareholder Rights Directive (SRD II).

Caceis is using Broadridge’s Global Proxy Voting platform for German domestic and cross-border custody operations. The custody bank said it would benefit from higher levels of straight-through processing efficiency throughout the voting lifecycle.

Across the Caceis group, the company is also using Broadridge’s Shareholder Disclosure Hub, enabling it to meet issuer requests for shareholder details “within the tight deadlines mandated by the Directive”.

SRD II requires improved communication standards between issuers and investors in a drive for greater shareholder engagement, said Stéphane Arvor, who is responsible for information technology at Caceis’s German branch.

Demi Derem, general manager for international investor communications at Broadridge, said SRD II meant that many wealth managers and other actors were required to provide voting and disclosure services for the first time.

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