20 October 2017
visit www.response.ncr.com

Investec sells NY clearing division to Fiserv

19 August 2002  |  2864 views  |  0 sale

Investec Ernst & Company, the New York-based division of South African banking group Investec, has sold its correspondent clearing business to Fiserv for an undisclosed sum.

Investec Ernst currently has 20 staff servicing more than 80 correspondent clearing relationships. The 2002 revenues from this business are projected at approximately $20 million.

Leslie Muma, president and CEO of Fiserv, says: "This expansion of our client base through additional institutional broker-dealers brings added depth to our securities processing business. In addition, we're gaining processing volumes, which is key to success in this industry sector."

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Investec and Shore Capital enter LSE Gateway

Investec and Shore Capital enter LSE Gateway

22 July 2002  |  5235 views  |  0 comments
Pershing wins Deutsche Bank clearing contract

Pershing wins Deutsche Bank clearing contract

25 June 2002  |  4792 views  |  0 comments
BNY Securities deploys Tarot for new UK clearing business

BNY Securities deploys Tarot for new UK clearing business

21 June 2002  |  4159 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.sibos.comvisit www.fivedegrees.nl

Who is commenting?

Top topics

Most viewed Most shared
Ripple looks to drive bank adoption with $300m XRP rebate programmeRipple looks to drive bank adoption with $...
15978 views comments | 12 tweets | 4 linkedin
Swift positive on blockchain, but big challenges remainSwift positive on blockchain, but big chal...
9069 views comments | 16 tweets | 23 linkedin
satelliteGates Foundation backs Ripple collaboratio...
8212 views comments | 13 tweets | 10 linkedin
IBM uses blockchain to improve cross-border payments processingIBM uses blockchain to improve cross-borde...
7219 views comments | 9 tweets | 17 linkedin
HSBC partners Bud for open banking trialHSBC partners Bud for open banking trial
6798 views comments | 19 tweets | 25 linkedin

Featured job

Competitive base + commission + benefits
Denmark, Finland, Iceland, Norway or Sweden

Find your next job