CALGARY, Nov. 8, 2012 /CNW/ - Barclays today announced that its
Corporate & Employer Solutions (C&ES) division has signed an agreement
with Solium Capital Inc. to create a white-label version of the Solium
Shareworks™ platform and administration services for clients as part of
the Barclays C&ES Global Stock & Reward offering.
Barclays C&ES has invested significantly over the past year to build its
capabilities, supported by a growing team of UK-wide industry
professionals. Incorporating the Solium Shareworks administration
platform is a significant boost to its Global Stock & Reward offering
that will enable C&ES to provide a fully integrated and
globally-administered platform with the aim of helping clients to
recruit, retain and reward employees. Barclays has been offering these
services in the UK for many years and is looking forward to servicing
global plans as well as domestic plans for its clients.
In addition, Barclays Group has adopted the platform for the
administration of its own global equity and long term incentive plans
and has appointed Barclays C&ES as administrator. From 5th November
2012, Barclays C&ES has begun providing administration and brokerage
services to Barclays discretionary share and cash plans which have over
Commenting on the Solium arrangement, Richard Phelps, Head of Barclays
Corporate & Employer Solutions, said: "Barclays Group global equity
plans are large and complex, and we are delighted to now be Barclays
administrator of choice. By combining the Solium Shareworks platform
with Barclays banking and brokerage expertise and our dedicated client
servicing team, we can provide an integrated solution which delivers an
exceptional service to corporate clients and their plan participants.
With the team we have recruited over the last year and with Solium as a
partner we're now ready to fully serve new clients in this area of
Solium Shareworks is the premier global solution for equity plan
compensation administration. Shareworks is a fully integrated,
web-based platform, tailored specifically for global equity
compensation plans, with an employee trade-execution portal,
industry-leading IFRS2 reporting capability and the most robust
real-time global tax functionality in the market.
Recognising the increasing challenges in managing stock and reward plans
in today's environment, Barclays C&ES aims to make the establishment
and ongoing administration of these plans simpler and more effective.
Through its partnership with Solium, Barclays C&ES can now deliver the
following options all in one place:
Access to a dedicated implementation/transaction team;
Brokerage, execution FX and share dealing services;
Offshore and onshore trusteeship (if necessary);
Nominee and warehouse services;
Participant portal, helpline, education and wealth management services,
dedicated VIP team; and
First class reporting and administration tools for HR teams.
Brian Craig, Managing Director and Head of Solium Capital UK, commented:
"Solium is proud to partner with Barclays to power leading edge
solutions and services for its C&ES Global Stock & Reward Services and
we're confident that Solium Shareworks will provide a strong foundation
for Barclays to achieve success as an elite provider of global and
domestic equity plan management solutions to a complex and
ever-evolving marketplace. The UK and global marketplaces have been
under serviced, and the timing is right to bring new solutions and
thought leadership to the fore."
Barclays moves, lends, invests and protects money for customers and
clients worldwide. With over 300 years of history and expertise in
banking, we operate in over 50 countries and employ over 140,000
Our customers and clients benefit from access to the breadth of
expertise across Barclays. We're one of the largest financial services
providers in the world, engaged in retail banking, credit cards,
corporate and investment banking, and wealth and investment management.
We are a leading global wealth and investment manager providing
international and private banking, wealth planning, trust and fiduciary
services, investment management, brokerage services and research to
private and intermediary clients around the world.
Solium (TSX: SUM) provides leading edge services for global equity
administration, financial reporting and compliance. Through innovative
technology and services, we power efficiency and accuracy of share plan
administration and equity transactions. With operation centres in the
United States, Canada and the UK, Solium serves more than 2,800 clients
with employees in more than 80 countries. Follow us @Solium and visit us online at solium.com.
SOURCE: Solium Capital Inc.
For further information:
Louise Pancott, Barclays, Corporate Communications
firstname.lastname@example.org +44 (0) 20 3134 7303
Scott Valentine, Solium, Marketing and Communications
email@example.com 0 1 403 472 5446