Diligent Launches Proxy Data Feed, Challenging Advisor Dominance
Event summary
- Diligent launched 'Diligent Stewardship Intelligence,' a proxy and voting data solution.
- The solution delivers data up to 70% faster (6 days vs. competitor timelines) after proxy filings.
- Diligent Stewardship Intelligence provides over 525 compensation data points and 300 governance fields per company.
- The data is available via the Snowflake Data Marketplace and integrates directly into client systems.
- Jeffery Davis, Head of Diligent Market Intelligence, emphasized the need for depth and quality in data for informed voting decisions.
The big picture
Asset managers face increasing pressure for transparency and defensible voting policies, creating a significant operational burden. Diligent’s offering directly addresses this by providing structured, timely data, potentially disrupting the traditional reliance on proxy advisory firms. The move signals a broader trend of asset managers seeking greater control and automation in their stewardship processes, leveraging data and AI to enhance decision-making.
What we're watching
- Adoption Rate
- The success of Diligent Stewardship Intelligence hinges on asset manager adoption; initial claims of adoption by 'leading global asset managers' need validation through demonstrable client growth and usage metrics.
- Competitive Response
- Existing proxy advisory firms will likely respond to this accelerated data offering, potentially through price adjustments or enhanced services, impacting Diligent’s market share and pricing power.
- Snowflake Dependency
- Diligent’s reliance on Snowflake as a distribution channel introduces a dependency that could affect scalability and pricing flexibility if Snowflake’s marketplace terms change.
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