Union Bank of California said today it would offer an online proxy voting tool for its institutional clients.
The web-based service is called Votex and will be offered through Institutional Shareholder Services (ISS).
Union Bank’s institutional custody clients will now receive ballot notifications electronically and can access their Union Bank custody accounts directly through ISS for proxy voting, the bank said.
Additional services include increased support for implementing and managing corporate governance procedures, Webcasts on important regulatory issues, and invitations to ISS conferences and seminars that focus on regulatory issues.
“Union Bank remains committed to providing clients with efficient technologies for all aspects of securities processing, including proxy voting,” said Greg King, Union Bank’s senior vice president of institutional securities services.
Cheryl Gustitus, ISS’s senior vice president of communications, added “ISS’s Votex platform streamlines the proxy voting process and allows institutions to perform their fiduciary duties more effectively and efficiently.”