eSecLending, the global securities lending agent, has launched a new service called ProxyValue, which helps institutional investors maximize income generated from the lending of securities while ensuring proxy voting fiduciary duties are met.
ProxyValue applies securities lending performance information to proxy voting management, which eSecLending says adds greater clarity, discipline and simplicity to the process. The service manages both revenue generation and corporate governance responsibility.
eSecLending is partnering with ISS, which is adding the shareholder proxy voting support to the service.
ProxyValue continues our commitment to leadership and innovation in the industry, says Peter Bassler, managing director of eSecLending. We are excited to work with ISS to deliver a creative solution that will help institutional investors make well informed corporate governance decisions. By providing the tools to evaluate the revenue considerations of recalling shares, ProxyValue will bridge the gap between institutional investors corporate governance and securities lending strategies.
Matthew Newman, vice president of ISS, adds: Our clients are continuously seeking ways to efficiently and effectively execute on their proxy voting responsibilities while also maximizing incremental revenue opportunities. ISS is pleased to partner with eSecLending in their goal to help institutions evaluate the economic and fiduciary impact of recalling shares.
(CG)