Australian firm extends global footprint
Australian-based Computershare Limited has moved to substantially increase its profile in employee share plan administration with the acquisition of Britain’s HBOS Employee Equity Solutions from Lloyds Banking Group.
Computershare announced the acquisition to the Australian Securities Exchange (ASX) today saying the transaction was valued at 40 million pounds and would be funded by cash and existing debt facilities with the objective of being earnings per share positive in the 2011 financial year.
Commenting on the acquisition, Computershare president and chief executive Stuart Crosby said it would result in Computershare becoming the market leader in employee plan administration in the United Kingdom.
AUTHOR
Mike Taylor
Recommended for you
ASIC has cancelled a Sydney AFSL for failing to pay a $64,000 AFCA determination related to inappropriate advice, which then had to be paid by the CSLR.
A former Brisbane financial adviser has been charged with 26 counts of dishonest conduct regarding a failure to disclose he would receive substantial commission payments for investments.
Inefficient data processes and systems mean advisers are spending over half of their time on product implementation and administration at the expense of clients, according to research.
With the regulator announcing its enforcement focus for 2025 last week, law firm Hall & Wilcox examines the areas which have dropped down the list in priority for the regulator.
