Corporate Issuers Rate Satisfaction with Transfer Agent Services
Corporate issuers rate satisfaction with transfer agents - American Stock Transfer, Computershare, and Wells Fargo are highest rated
PRINCETON, N.J., Oct. 29, 2012 /PRNewswire/ -- Group Five, a consulting and corporate services research company, today announced the results of its annual study of corporate opinions of services provided by transfer agents. The annual study, which has been measuring client satisfaction since 1990, is based on the completed surveys from 860 corporations — representing over 30 million registered shareowners. The study provides the only reliable and independent forum for corporate clients to make their opinions and priorities known to service providers.
Overall client satisfaction with transfer agent services decreased two percentage points from last year to 87% favorable. Annual meeting services remain the highest rated transfer agent service at 96% favorable, which is the same rating as last year. Satisfaction with telephone service to shareholders is the lowest rated transfer agent service at 80% favorable, which is also the same rating as 2010.
Transfer Agent Services
Industry overall satisfaction for the four largest transfer agents is 87% favorable. American Stock Transfer, Computershare, and Wells Fargo all scored the highest rating of 90%. The Bank of New York Mellon Shareowner Services received a 77% favorable rating.
Jack Sunday, CEO, Group Five pointed out, "The sale of BNY Mellon Shareowner Services, the largest transfer agent in the United States, caused the decline in the overall industry satisfaction rating. As we have seen with previous industry mergers and acquisitions, there is always a marked decline in issuer ratings for some period of time and until everyone becomes accustomed to the new arrangements."
Mark C. Healy, President and Chief Executive Officer of American Stock Transfer and Trust Company said, "We are honored to receive this recognition and thank our clients for their partnership and continued support. We could not achieve these top ratings and deliver the quality customer service we are known for without the dedication to service excellence from our associates."
"We're pleased to again receive the highest overall satisfaction rating from legacy Computershare clients. We are also looking forward to transitioning through the large number of 'wait and see' ratings by former BNY Shareowner Services clients and to gain their full trust and satisfaction in the next year," said Jay McHale, President of US Equity Services for Computershare. "We're glad they feel well cared for during this transition as shown by strong ratings for overall account support."
"We are thrilled that our clients and their shareowners continue to benefit from our focus on service," said Todd May, head of Wells Fargo Shareowner Services. "As stated by our CEO, 'Everything we do is built on trust. It doesn't happen with one transaction, in one day on the job or in one quarter. It is earned relationship by relationship.' This is why we are continually investing in our services and the ways in which they are delivered."
Group Five is a consulting and market research firm. The firm is best known for its consulting and research expertise in shareholder services and stock plan administration services.
No advertising or other promotional use can be made of the information in this release or Group Five survey results without the express prior written consent of Group Five, Inc.
SOURCE Group Five
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