Williams de Broë outsources institutional and private client ops to ADP Wilco

Williams de Broë outsources institutional and private client ops to ADP Wilco

Williams de Broë, the London-based stockbroking subsidiary of ING, has signed a seven-year outsourcing agreement with ADP Wilco for the processing of both its institutional and private client operations.

Under the contract, ADP Wilco's bureau service will handle all aspects of international equity and fixed income processing for Williams de Broë's UK-based institutional brokerage operation, and will support trading in over 20 markets.

The stockbroker will utilise an integrated processing platform, hosted at the vendor's data centre in North America, for trade capture, confirmation, position management and settlement. The system also provides two-way real-time connectivity with Euroclear, Crest, Oasys, Trax and Swift. Proactive workflow management will be provided throughout the transaction lifecycle, says ADP Wilco.

At Williams de Broë's private client operations, the vendor will handle nominee services for both advisory and discretionary business lines, providing lifecycle support from trade capture to settlement including cash management, portfolio valuations and corporate action processing.

David Whistance, financial director, Williams de Broë, says: "We worked closely with ADP Wilco and were able to establish a very strong and compelling business case for outsourcing that includes considerable cost savings, improved STP and a straightforward, inexpensive conversion process."

Williams de Broë is the first to sign up to ADP Wilco's integrated institutional and retail outsourcing service.

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