On August 2, 2006, ADP announced the proposed spin-off of its Brokerage Services Group into a separate publicly traded company. ADP anticipates that the transaction will be completed in the spring of 2007.
Rich Daly, co-President, ADP Brokerage Service Group, commented, "We are proud to adopt Broadridge as our new name. It is an easy to remember, smart and practical name, much like the solutions we have been providing to our clients for over 40 years. We think our new name conveys our rock solid reliability and the wide array of services we provide. As Broadridge, ADP Brokerage will continue to operate as a full service partner, providing clients with accurate, reliable and efficient solutions to help them grow their business. These offerings include securities processing solutions, clearing and outsourcing solutions, and investor communications solutions."
The logo is comprised of two arrows pointing to each other, focusing on achieving a common goal. It is a representation of the partnership ADP Brokerage Services has and Broadridge will have with its clients to deliver the right solutions and a consistent, reliable, best in class experience.
As ADP Brokerage moves into this new phase of its existence, the management and associates that have made it successful for so many years are staying in place at Broadridge. As previously announced, Rich Daly will be Chief Executive Officer of Broadridge and John Hogan will be the Chief Operating Officer. Broadridge looks forward to continuing its commitment to providing world class, industry leading solutions to the marketplace.