UBS Financial Services has agreed to extend its partnership with Solium Capital, a Canada-based provider of software-as-a-service (SaaS) for equity administration, financial reporting and compliance, to leverage the latter’s technology.
The extended partnership will upgrade UBS clients to a UBS branded version of Shareworks’s stock plan administration platform, which will help administrators in gaining increasing automated administration functionality, such as superior capabilities around reporting and expense accounting.
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Under the agreement, the Swiss financial services firm will continue to provide service and support functions to its corporate customers, as well as associated employee participants, including its wealth management services and digital employee experience.
UBS clients include: UBS existing employee participant platform; relationship management; plan administration; wealth management services; trade execution; workplace education and executive services.
Solium said that it will provide UBS technology infrastructures and service for plan administrators; supporting UBS use of the software; delivering industry leading on-line training systems; and technical support.
UBS Wealth Management Americas head of equity plan advisory services Michael Barry said: “Leveraging Shareworks technology allows us to focus on accelerating our efforts to deliver education and advice through our Financial Advisors and digital channels.
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By GlobalData“We are firmly committed to the equity plan business. An important aspect of that is helping both our corporate clients and participants achieve success. Our industry is evolving and UBS will continue to be a leader and at the forefront of change.”
Solium CEO Marcos Lopez said: “This arrangement is a testament to the power of the long-standing relationship that we have enjoyed with UBS in the US marketplace. We are excited to enable UBS with the Shareworks platform.
“The Shareworks platform’s modern architecture and rich features will enable UBS to continue to provide leading-edge technology to its clients. We look forward to continuing to work with UBS and further enabling their stock plan business.”
