In Brief: ADP Unit to Process For B of A Global Arm

November 17, 2000, 2:00 a.m. EST 1 Min Read

CHARLOTTE, N.C. - Bank of America's global corporate investment banking arm signed a multiyear contract with ADP Brokerage Services Group for a processing system to support its global securities business.

ADP Brokerage, a division of Automatic Data Processing Inc., will help the Bank of America global unit consolidate its currency trading support system.

The consolidation could potentially save 20% of the unit's security processing costs.

ADP Brokerage provides systems for securities processing, desktop productivity, and investor communication services.

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