• Broadridge Financial Solutions has announced plans to acquire Kyndryl’s Securities Industry Services (SIS) wealth and capital markets technology platform.
• The acquisition is expected to strengthen Broadridge’s position as a leading technology provider to Canadian financial services firms.
• Frank Troise has been appointed as the new President of Broadridge Trading & Connectivity Solutions, taking over from Ray Tierney.

Broadridge Financial Solutions is set to acquire Kyndryl’s Securities Industry Services (SIS) wealth and capital markets technology platform, a move that is expected to bolster its position in the Canadian financial services sector.

Broadridge to Acquire Kyndryl’s Wealth Tech

Broadridge has agreed to acquire Kyndryl’s Securities Industry Services (SIS) wealth and capital markets technology platform. The transaction, which is subject to regulatory approvals and customary closing conditions, is expected to close in the coming months. However, it is not expected to have a material impact on Broadridge’s financial results.

Meeting the Increasingly Complex Needs of Canadian Firms

Kyndril’s SIS solutions include clearing and settlement, account record keeping, tax and regulatory reporting, and integrated order management activities for Canadian financial services firms. The acquisition of the SIS business underscores Broadridge’s long-standing commitment to being a leading technology provider to Canadian financial services firms. It is expected to accelerate Broadridge’s ability to bring innovation to Canada and meet the increasingly complex needs of Canadian firms.

Broadridge Trading & Connectivity Solutions Appoints New President

Last month, Broadridge announced Frank Troise as the new President of Broadridge Trading & Connectivity Solutions and Vice Chairman of Broadridge Capital Markets. Troise is set to lead the company’s Trading & Connectivity division into a new era focused on streamlining and enhancing trading operations across the globe.

Conclusion

The acquisition of Kyndryl’s Securities Industry Services (SIS) wealth and capital markets technology platform by Broadridge is expected to strengthen its position in the Canadian financial services sector. With the appointment of Frank Troise as the new President of Broadridge Trading & Connectivity Solutions, the company is poised to streamline and enhance trading operations across the globe.