Broadridge
Financial Solutions (NYSE: BR) has appointed
Larry Conover as Vice President and Special Advisor for Proxy & Corporate
Actions, strengthening its leadership team with an experienced executive from
Fidelity Investments.
Former-Fidelity Executive Joins
Broadridge for Proxy Advisory Role
Conover
joins the fintech leader after an 18-year tenure at Fidelity, where he served
as Vice President for the Operations and Services Group. In his previous role,
he managed the Asset Services Division’s domestic and global corporate actions
and proxy operations.
“I have
been very fortunate to have a long and rewarding career at Fidelity that
allowed me to grow both personally and professionally,” Conover commented. “It’s
been an honor and privilege to be able to collaborate with such talented and
dedicated professionals to advance the goals of the organization and create
greater efficiencies to help customers.”
In his new
role at Broadridge, based in New York, Conover will work on improving the
company’s products and services while supporting its global clients. His
responsibilities will also include efforts to streamline industry processes,
such as implementing end-to-end confirmation for proxy contests.
This is
another C-level move for the company, following the December appointment of
Ashima Ghei as Chief Financial Officer (CFO). Ghei had previously served as
interim CFO since July.
With over
25 years in financial services, Conover has participated in industry working
groups and advisory committees, including SIFA Proxy Task Force. His work
includes assessing regulatory and legislative changes and developing industry
standards.
“My
journey continues, as I am not quite done yet in the industry,” Conover
concluded.
Broadridge Posts Strong Q2
Earnings
Last week,
the company reported a robust second-quarter performance, with adjusted
earnings per share surging 70% as the financial technology firm benefited from
increased investor communication activity and steady recurring revenue growth.
Broadridge
posted adjusted earnings of $1.56 per share for the quarter ended December 31, outpacing
the previous year’s $0.92. Net earnings more than doubled to $142 million,
while total revenues climbed 13% to $1.59 billion.
The
company’s core recurring revenues grew 9% to $980 million. Event-driven
revenues also saw a surge, jumping 126% to $125 million, primarily due to
increased mutual fund communications activity.
Back in
December, First Abu Dhabi Bank (FAB) chose Broadridge Financial Solutions to
support its global agency securities finance operations, expanding
securities lending in the UAE and the wider Middle East. This collaboration
aligns with Broadridge’s introduction of an AI-driven algorithmic trading
insights service
This article was written by Damian Chmiel at www.financemagnates.com.
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