New York, NY – October 14, 2002 – ADP Brokerage Services Group, a division of Automatic Data Processing, Inc. (NYSE:ADP) announced today that asset manager Weiss, Peck & Greer, LLC has signed a multi-year agreement to continue outsourcing the processing of its securities transactions to ADP Brokerage Processing Services (BPS), a leading provider of transaction services to the financial industry.
ADP's Brokerage Processing Services platform is a flexible, real-time processing system for equities, options, fixed-income securities and mutual funds, complete with automated inquiry, reporting and record keeping services. Weiss, Peck & Greer will continue to have their domestic and foreign equities, mutual funds and fixed income business processed through BPS.
John Kenny, managing director of operations for Weiss, Peck & Greer states, "The financial services industry, over the past 10 years, has been met with many challenges and as a result of our association with ADP we've been able to focus on the direction of our business, confident that industry initiatives were being addressed by ADP, which has always met and often exceeded expectations. Their comprehensive product offering is a real benefit, from the processing of our trades to the delivery of shareholder information; there is no need to worry about whether systems from different vendors are compatible and easily integrated. We anticipate that our continuing partnership will prove beneficial to them as well as to us and we look forward to our future endeavors."
Marianne Brown, senior vice president and general manager, ADP Brokerage Processing Services responds, "It's rewarding to know that our clients are just as committed to us as we are to them. We look forward to our continued partnership with Weiss, Peck & Greer." Ms. Brown continues, "Our clients can be confident that our product development initiatives are done with their best interest in mind and that we will continue to provide them with the products and services to help grow their business and set them apart from their competition."
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