ProxymitySM was conceived and developed by Dean Little and Jonathan Smalley, two executives in Citi’s ICG Custody group in London. With over 20 years combined industry experience in custody product development, the pair recognised an opportunity to reinvent an established practice of proxy voting within the corporate governance process, to bring increased efficiency and transparency to the market.
These employee “founders” were supported by Citi’s D10XSM program, an internal strategic growth model that supports the creation, development and launch of new concepts by employees across Citi’s businesses. This strategic growth work is led by Citi Ventures and supported by a network of global innovation labs. In this instance, the underlying Proxymity technology was developed at the Citi Innovation Lab in Tel Aviv.