ADP Brokerage Services Group announced today that the New York office of investment bank Dresdner Kleinwort Wasserstein (DrKW) has signed a multi-year agreement to continue outsourcing the back office processing of its securities transactions via ADP Brokerage Processing Services (BPS).
ADP says its BPS platform provides firms with a flexible, real-time processing system for equities, options, and mutual funds, complete with automated inquiry, reporting and record keeping services. DrKW will continue processing its US domestic equities, options and CDs through ADP. In addition, the firm’s shareholder communication requirements – such as the processing and mailing of proxy notices, prospectuses, confirms, and statements – will continue to be supported by ADP’s Investor Communication Services Division.
Vito DiMattia, Managing Director and Head of Operations New York for DrKW commented: “Our decision to remain with ADP was based on the service level they provided. We are pleased with the successful conclusion of our negotiations with ADP, and look forward to continuing to work with the team.”
Marianne Brown, Senior Vice President and General Manager, ADP Brokerage Processing Services added: “Our commitment to providing world class service to our clients is the fuel that keeps this engine humming and we look forward to our continued partnership with Dresdner Kleinwort Wasserstein.”