Barclays joins hands with Solium
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 globallyadministered 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 8,500 participants.
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 employee benefits.” Solium Shareworks is the premier global solution for equity plan compensation administration. Shareworks is a fully integrated, webbased platform, tailored specifically for global equity compensation plans, with an employee trade-execution portal, industry-leading IFRS2 reporting capability .