Rewiring investor engagement
29 Oct 2025
Demi Derem, head of Investor Communications, Digital Transformation and Market Innovation at Broadridge, speaks to Zarah Choudhary about navigating global governance complexity, empowering retail investors, and how AI is redefining stewardship in the digital age
Image: Broadridge
Broadridge sits at the very centre of the financial markets infrastructure — connecting issuers, intermediaries, and investors in one of the most complex ecosystems in the world.
With operations that span the buy side, sell side, and the layers of intermediaries between them, the firm’s footprint gives it a unique vantage point on how global capital markets are evolving.
“Broadridge is in a very unique position because it touches every part of the financial services value chain,” says Demi Derem, head of international investor communication solutions. “Historically, we’ve focused on the intermediaries in the middle — the custodians, sub-custodians, and other service providers that connect issuers with investors. But now, we’re creating far more direct value for both ends of that chain.”
Derem explains that the firm’s investor communications business has evolved significantly in recent years, particularly as regulation, ESG scrutiny, and shareholder activism reshape corporate behaviour. “In North America, we’ve always been closely aligned to issuers,” he says.
“Internationally, our focus was historically on the infrastructure — enabling issuers and investors to communicate effectively. What’s changed now is that we’re helping issuers understand who their shareholders are, what influences their decision-making, and how they can engage more meaningfully.”
That evolution has been accelerated by Europe’s Shareholder Rights Directive (SRD II), which created new structure and governance around transparency and shareholder engagement. “The Directive helped create a framework, but we’ve gone much further by leveraging the data that flows through our infrastructure,” Derem explains.
“With appropriate data privacy guardrails in place, we’re providing issuers with analytics around who owns their stock, how those investors view them, and how their positions are shifting over time. It’s about transforming data into insight — and insight into action.”
Connecting the dots for issuers and investors
Broadridge’s mission increasingly revolves around transparency — not only for issuers seeking to understand ownership, but also for the asset managers and institutional investors who represent millions of underlying investors.
On the asset management side, Derem says, Broadridge is building a suite of capabilities that allow managers to consolidate the entire investment decision-making process, from stewardship research, custom policies to voting and downstream reporting. “We’re really excited about the tools we’re building and the collaborations we are involved in with key investment managers,” he notes.
“The investment managers can bring together different research channels, build custom policies and streamline their fragmented manual processes on one platform. This enabling them to differentiate themselves through how they engage and report back to regulators and their asset owners — such as pension funds — who are demanding greater accountability and visibility.”
That accountability is key. Derem continues: “Institutional investors want to ensure that their values and stewardship priorities are represented through the funds that invest on their behalf. Our technology helps managers align with those expectations, apply custom voting policies consistently, and provide detailed reporting to asset owners.”
This, he highlights, is part of a wider shift in the governance ecosystem — one that blurs the traditional line between issuers, intermediaries, and end investors. “We’re seeing the whole chain become more transparent,” he notes. “Issuers are learning more about who holds their shares, and investors are learning more about how their votes are represented. Broadridge is enabling that visibility.”
Navigating a fragmented global landscape
That visibility, however, comes with complexity. Broadridge operates in more than 100 markets — each with its own legal frameworks, reporting requirements, and cultural nuances around governance and disclosure.
“In an ideal world, everyone would follow the same rules,” Derem says with a laugh. “But each market has its own quirks. Once you focus on one, you can crack it — but when you’re supporting global investors with exposure to 100+ markets, the challenge is constant and real.”
To stay ahead of these shifting frameworks, Broadridge works closely with regulators and industry bodies such as the International Securities Services Association (ISSA) and Association for Financial Markets in Europe (AFME), as well as standards committees across the world. “We feed all that intelligence back into our product development and operations teams,” he says.
“We also host steering groups with our clients, where we share intelligence on upcoming regulatory changes and hear directly from them about their priorities.”
It is a dynamic process — and one that never stops evolving. Derem notes: “There’s always a balance between harmonisation and local practice. With SRD II, for instance, we saw a directive rather than a regulation, which led to some bifurcated interpretations across markets. Post SRD II, we have been working with our user community to advocate for greater standardisation and a more streamlined approach.”
The rise of the retail investor
Perhaps the most dramatic transformation Derem has seen in recent years is the rise of the retail voice in corporate governance.
“Ten years ago, issuers primarily focused their communication on institutional investors,” he reflects. “But now, there is far more retail participation. We’re seeing issuers trying to figure out how best to engage with retail shareholders, because their collective or sometimes single voice is becoming impossible to ignore.”
Mandatory market change has been a major driver in Europe. SRD II required brokers and banks to offer voting rights to retail investors, a change that opened the door to far greater participation. “Before SRDII, retail investors in Europe often lacked easy access to vote on corporate resolutions,” Derem explains. “Now, far more can — and we’re seeing issuers develop retail-specific engagement strategies as a result.”
He points to examples such as Tesla, where CEO-driven outreach to retail shareholders has influenced both perception and governance outcomes. “The retail community can move markets — literally,” he notes. “And that’s encouraging a wave of innovation. We’re seeing new fintechs emerge to connect retail investors with issuers, and we’re partnering with many of them to help scale those efforts.”
Virtual shareholder meetings and investor engagement platforms are another sign of that evolution. “Hybrid and virtual investor meetings are fast becoming the norm,” Derem points out, noting: “They offer cost efficiency, accessibility, and the ability to bring thousands of shareholders into the conversation. It’s a model that’s here to stay.”
AI and automation: The new frontier
As with nearly every corner of financial services, AI is reshaping how Broadridge works — both internally and across its product suite. Derem says: “We sit on a vast amount of data. Generative AI is allowing us, for example, to automate complex client reports that used to require elements of manual oversight. It’s speeding up delivery and further enhancing accuracy.”
The firm has also started to integrate AI-driven chat tools into its client platforms to make information retrieval more intuitive. “Rather than navigating multiple menus, users can simply ask for the report they need,” he explains.
“It’s about improving the client experience and helping people find what they need faster.”
Within Broadridge’s governance solutions — particularly its Global Proxy product — AI is being deployed to streamline operations, apply voting policies consistently, and generate downstream reporting for asset managers and their underlying asset owners. “AI helps us ensure that every custom policy a client creates is correctly applied across portfolios, and that the reporting that comes back is consistent,” Derem says. “It’s a huge step forward in stewardship efficiency.”
He draws a distinction between generic automation and generative AI, which learns and improves over time. “That’s the real game-changer,” he says. “It’s about creating dynamic outputs — reports, insights, benchmarks — that get smarter with every iteration.”
Looking ahead: New disruptors, new voices
Asked what he sees as the biggest disruptors over the next five years, Derem pauses. “AI will continue to redefine everything. Imagine large pension funds setting investment criteria and letting AI build and manage portfolios automatically. While this may sound far-fetched today — it could fundamentally alter how fund management works.”
Another powerful force is the convergence of the retail and institutional worlds. “You only need one influential individual to shift sentiment,” he observes. “A strong retail voice, amplified through digital channels, can influence how institutional investors vote. That’s something issuers — and the market as a whole — will need to adapt to.”
Broadridge is also witnessing an increasing interest in global securities class actions, as investors seek restitution following cases of corporate misconduct. “We’ve seen a surge in demand for this service,” Derem notes. “Our dedicated team helps our clients recover the investment losses they’re owed, and our commercial model is built on shared success — we stand behind the quality of what we deliver.”
Ultimately, he says, the future of investor communications will hinge on trust, transparency, and technology. “The lines between issuer, intermediary, and investor are blurring,” he concludes. “Our role is to connect those dots — to make that communication seamless, intelligent, and fair. That’s how we build a stronger, more engaged market.”
With operations that span the buy side, sell side, and the layers of intermediaries between them, the firm’s footprint gives it a unique vantage point on how global capital markets are evolving.
“Broadridge is in a very unique position because it touches every part of the financial services value chain,” says Demi Derem, head of international investor communication solutions. “Historically, we’ve focused on the intermediaries in the middle — the custodians, sub-custodians, and other service providers that connect issuers with investors. But now, we’re creating far more direct value for both ends of that chain.”
Derem explains that the firm’s investor communications business has evolved significantly in recent years, particularly as regulation, ESG scrutiny, and shareholder activism reshape corporate behaviour. “In North America, we’ve always been closely aligned to issuers,” he says.
“Internationally, our focus was historically on the infrastructure — enabling issuers and investors to communicate effectively. What’s changed now is that we’re helping issuers understand who their shareholders are, what influences their decision-making, and how they can engage more meaningfully.”
That evolution has been accelerated by Europe’s Shareholder Rights Directive (SRD II), which created new structure and governance around transparency and shareholder engagement. “The Directive helped create a framework, but we’ve gone much further by leveraging the data that flows through our infrastructure,” Derem explains.
“With appropriate data privacy guardrails in place, we’re providing issuers with analytics around who owns their stock, how those investors view them, and how their positions are shifting over time. It’s about transforming data into insight — and insight into action.”
Connecting the dots for issuers and investors
Broadridge’s mission increasingly revolves around transparency — not only for issuers seeking to understand ownership, but also for the asset managers and institutional investors who represent millions of underlying investors.
On the asset management side, Derem says, Broadridge is building a suite of capabilities that allow managers to consolidate the entire investment decision-making process, from stewardship research, custom policies to voting and downstream reporting. “We’re really excited about the tools we’re building and the collaborations we are involved in with key investment managers,” he notes.
“The investment managers can bring together different research channels, build custom policies and streamline their fragmented manual processes on one platform. This enabling them to differentiate themselves through how they engage and report back to regulators and their asset owners — such as pension funds — who are demanding greater accountability and visibility.”
That accountability is key. Derem continues: “Institutional investors want to ensure that their values and stewardship priorities are represented through the funds that invest on their behalf. Our technology helps managers align with those expectations, apply custom voting policies consistently, and provide detailed reporting to asset owners.”
This, he highlights, is part of a wider shift in the governance ecosystem — one that blurs the traditional line between issuers, intermediaries, and end investors. “We’re seeing the whole chain become more transparent,” he notes. “Issuers are learning more about who holds their shares, and investors are learning more about how their votes are represented. Broadridge is enabling that visibility.”
Navigating a fragmented global landscape
That visibility, however, comes with complexity. Broadridge operates in more than 100 markets — each with its own legal frameworks, reporting requirements, and cultural nuances around governance and disclosure.
“In an ideal world, everyone would follow the same rules,” Derem says with a laugh. “But each market has its own quirks. Once you focus on one, you can crack it — but when you’re supporting global investors with exposure to 100+ markets, the challenge is constant and real.”
To stay ahead of these shifting frameworks, Broadridge works closely with regulators and industry bodies such as the International Securities Services Association (ISSA) and Association for Financial Markets in Europe (AFME), as well as standards committees across the world. “We feed all that intelligence back into our product development and operations teams,” he says.
“We also host steering groups with our clients, where we share intelligence on upcoming regulatory changes and hear directly from them about their priorities.”
It is a dynamic process — and one that never stops evolving. Derem notes: “There’s always a balance between harmonisation and local practice. With SRD II, for instance, we saw a directive rather than a regulation, which led to some bifurcated interpretations across markets. Post SRD II, we have been working with our user community to advocate for greater standardisation and a more streamlined approach.”
The rise of the retail investor
Perhaps the most dramatic transformation Derem has seen in recent years is the rise of the retail voice in corporate governance.
“Ten years ago, issuers primarily focused their communication on institutional investors,” he reflects. “But now, there is far more retail participation. We’re seeing issuers trying to figure out how best to engage with retail shareholders, because their collective or sometimes single voice is becoming impossible to ignore.”
Mandatory market change has been a major driver in Europe. SRD II required brokers and banks to offer voting rights to retail investors, a change that opened the door to far greater participation. “Before SRDII, retail investors in Europe often lacked easy access to vote on corporate resolutions,” Derem explains. “Now, far more can — and we’re seeing issuers develop retail-specific engagement strategies as a result.”
He points to examples such as Tesla, where CEO-driven outreach to retail shareholders has influenced both perception and governance outcomes. “The retail community can move markets — literally,” he notes. “And that’s encouraging a wave of innovation. We’re seeing new fintechs emerge to connect retail investors with issuers, and we’re partnering with many of them to help scale those efforts.”
Virtual shareholder meetings and investor engagement platforms are another sign of that evolution. “Hybrid and virtual investor meetings are fast becoming the norm,” Derem points out, noting: “They offer cost efficiency, accessibility, and the ability to bring thousands of shareholders into the conversation. It’s a model that’s here to stay.”
AI and automation: The new frontier
As with nearly every corner of financial services, AI is reshaping how Broadridge works — both internally and across its product suite. Derem says: “We sit on a vast amount of data. Generative AI is allowing us, for example, to automate complex client reports that used to require elements of manual oversight. It’s speeding up delivery and further enhancing accuracy.”
The firm has also started to integrate AI-driven chat tools into its client platforms to make information retrieval more intuitive. “Rather than navigating multiple menus, users can simply ask for the report they need,” he explains.
“It’s about improving the client experience and helping people find what they need faster.”
Within Broadridge’s governance solutions — particularly its Global Proxy product — AI is being deployed to streamline operations, apply voting policies consistently, and generate downstream reporting for asset managers and their underlying asset owners. “AI helps us ensure that every custom policy a client creates is correctly applied across portfolios, and that the reporting that comes back is consistent,” Derem says. “It’s a huge step forward in stewardship efficiency.”
He draws a distinction between generic automation and generative AI, which learns and improves over time. “That’s the real game-changer,” he says. “It’s about creating dynamic outputs — reports, insights, benchmarks — that get smarter with every iteration.”
Looking ahead: New disruptors, new voices
Asked what he sees as the biggest disruptors over the next five years, Derem pauses. “AI will continue to redefine everything. Imagine large pension funds setting investment criteria and letting AI build and manage portfolios automatically. While this may sound far-fetched today — it could fundamentally alter how fund management works.”
Another powerful force is the convergence of the retail and institutional worlds. “You only need one influential individual to shift sentiment,” he observes. “A strong retail voice, amplified through digital channels, can influence how institutional investors vote. That’s something issuers — and the market as a whole — will need to adapt to.”
Broadridge is also witnessing an increasing interest in global securities class actions, as investors seek restitution following cases of corporate misconduct. “We’ve seen a surge in demand for this service,” Derem notes. “Our dedicated team helps our clients recover the investment losses they’re owed, and our commercial model is built on shared success — we stand behind the quality of what we deliver.”
Ultimately, he says, the future of investor communications will hinge on trust, transparency, and technology. “The lines between issuer, intermediary, and investor are blurring,” he concludes. “Our role is to connect those dots — to make that communication seamless, intelligent, and fair. That’s how we build a stronger, more engaged market.”
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