LONDON (Alliance News) - Equiniti Group PLC on Thursday said it completed the technical separation of its US division from bank Wells Fargo & Co, following the acquisition of Wells Fargo Shareowner Services.
"The acquisition of Wells Fargo's share registration business positions Equiniti for growth in the world's deepest capital market, enhancing the opportunities for cross-selling to new and existing clients and providing an opportunity to gain a greater share of the share registration and employee plans market in the US," the financial and business administration outsourcer said.
Equiniti said the separation allows for the realisation of operating synergies supporting further growth. All business functions are now handles by Equiniti.
Equiniti shares were flat at 225.60 pence each early Thursday morning.