Dexia Banque Internationale à Luxembourg (Dexia Bil) has signed a contract to outsource its global proxy services processing to ADP's Investor Communication Services division.
The bank says it will use ADP's global proxy products to provide its institutional clients with an end-to-end electronic voting solution in 83 markets worldwide.
Marc-André Bechet, head of business development, Dexia Fund Services, says: "We recognise that a comprehensive and fully electronic solution must be an integral part of our service offering as Dexia Fund Services continues to develop its international network of operations."
ADP offers banks a combined global proxy and domestic proxy product, providing an outsourcing solution for the provision of proxy announcements and agendas and vote processing to the institutional investor.