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Equiniti Group completed the separation of its EQ US division from Wells Fargo.
'Completing the separation is an exciting milestone for Equiniti's business in the world's deepest capital market. It provides an opportunity to transform our US operations into a market-leading, technology-enabled business with a broad range of transfer agency and supporting services,' said Guy Wakeley, Chief Executive of Equiniti.
Following the separation, business functions would now be administered on Equiniti's infrastructure and systems in Minneapolis, Milwaukee, Chicago and New York. EQ US's clients and customers would benefit from the latest web and mobile-optimised portals for both issuers and shareowners, the company said.
'This internationalisation of the business positions Equiniti well for future growth with the opportunity to share expertise and cross-sell services to existing and prospective clients on both sides of the Atlantic,' Wakeley added.
At 8:16am: (LON:EQN) Equiniti Group Plc share price was -0.8p at 224.8p