Solium Congratulates Prudential and Standard Bank on GEO Wins
CALGARY, April 27, 2015 – Solium (TSX: SUM), the leading global provider of cloud-enabled software and services for equity administration, financial reporting and compliance, is proud to announce that two of its clients have been recently honoured with awards at the Global Equity Organisation (GEO) conference in London. Prudential plc won the Most Innovative and Creative Plan Design award while Standard Bank won Most Creative Solution.
Prudential recognised for plan design
London-based Prudential plc is an international financial services group with significant operations in Asia, the US and the UK. Hong Kong-based Prudential Corporation Asia (PCA) devised a thoughtful and competitive share purchase plan for its employees all across Asia, where competition for talent is keen and equity plans remain novel. PCA also created a Sharia-specific plan, which enabled their 400 practising Muslim employees to participate where otherwise religious restrictions would prevent them from doing so. Prudential then communicated the plan to a diverse employee group of 11,000 across Asia in 8 languages.
Standard Bank honoured for creative solution
Based in Johannesburg, Standard Bank is a leading Africa-focused financial services organisation. They were honoured for a plan designed to compensate employees who were previously culturally disadvantaged in ways associated with apartheid. Awarded 10 years ago, the Black Economic Empowerment Scheme required Standard Bank to be in regular communication with the recipients, especially as it maturity approached in 2015. They led an intensive communications campaign as the maturation date neared, meeting with each recipient individually in an extensive roadshow to fully explain every facet of the award. Their efforts resulted in a 75% participation rate, outstanding considering the long maturity time frame.
Congrats from Solium
“Solium offers its congratulations to both Prudential and Standard Bank,” said Brian Craig, UK and EMEA Country Head and Managing Director of Solium. “We salute our clients for their pursuit of creativity and innovation, as well as their cultural sensitivity, and are pleased to see their leadership recognised by the share plan community.”
From April 15 to 17, 2015, the 16th Annual GEO Conference brought together more than 400 equity compensation professionals and experts from around the world to discuss the design, accounting, taxation, compliance, and communication practices related to global share plans.
Solium Capital Inc. (TSX: SUM) provides cloud-enabled services for global equity-based incentive plans administration, financial reporting and compliance. From operation centers in the United States, Canada, the United Kingdom, Europe and Australia, our innovative software-as-a-service (SaaS) technology powers share plan administration and equity transactions for more than 3,000 corporate clients with employee participants in more than 100 countries. Follow us on Twitter @Solium and visit us at solium.com
The Global Equity Organization (GEO) is a member-founded and member-driven not-for-profit organization dedicated to advancing knowledge and understanding of equity compensation worldwide through a global community of well-informed professionals. GEO provides its members – regardless of location, position or affiliation – opportunities to share and learn about the strategic, governance, financial, cultural, legal, tax, communication and administrative issues affecting equity-based employee compensation around the world, from the fundamentals to the latest market intelligence.