NEW YORK--(BUSINESS WIRE)--Having recently completed its 2015 fiscal year, the AST Group (AST) reported record earnings and the achievement of several significant strategic initiatives.
The year was highlighted by extraordinary accomplishments across the organization, including the broadening of product offerings and expertise through strategic acquisitions. Among the acquisitions were D.F. King & Co., Inc. (specialized proxy and corporate governance advisory services), Donlin, Recano & Company, Inc. (bankruptcy and class action administration), First American Stock Transfer, Inc., Data Palette Information Services, LLC and Scotti Graphics, Inc. (financial printing), and Scotti Financial Data Services, Inc. (corporate action software provider).
“The market response to our growth strategy has been resoundingly positive,” said Marty Flanigan, Interim President and CEO. “We’ve continued to add new clients and expand existing relationships with our comprehensive, complementary and value-added solutions. “The firm has the highest win ratio among its competitors for IPO appointments and holds leading positions in several areas, including the mutual fund and corporate proxy businesses,” added Flanigan.
This past fiscal year, AST enhanced its capital markets software offerings with the introduction of two new products: a mutual fund intermediary oversight solution, AST Oversight™, and a multipurpose shareholder contact management platform, ASTDrive™.
Further, the company continued to add key industry talent and invest heavily in people, processes and technology. It proactively strengthened its control environment for enhanced data security — a critical issue for the industry right now — and made a number of major system enhancements.
Finally, AST built on the groundbreaking work of its Executive Advisory Council Industry Study. Its new Industry Index, due out in October, provides insights on how the industry is performing and what purchasers of issuer and shareholder services value most in their service providers. For 2016, the firm plans to expand the breath of products offered to both issuers and shareholders.
“It’s an exciting time for us, as our financial position, focus on operational excellence and growth opportunities have never been stronger,” said Flanigan. “We are committed to serving and supporting our current and potential clients and to continuing the dialogue with our industry partners. We plan on holding events across North America to connect in person and share the firm’s progress, while we uncover more ways to add value to every relationship.”
About the AST Group
The AST Group is the leading provider of registry services and technology to financial market participants across North America. Its companies and divisions, which include American Stock Transfer & Trust Company, LLC (AST) and CST Trust Company (CST), provide comprehensive stock transfer and employee plan services to more than 8,000 public issues and over 5.5 million shareholders. The AST Group provides fully integrated services that include corporate proxy solicitation and advisory solutions, employee plan services, information agent, mutual fund proxy solicitation and advisory solutions, shareholder identification, asset recovery, and investment management offerings.