Investec Wealth & Investment (IW&I), a UK-based private client wealth management firm, has gone live with Calastone’s recently launched Transfer Service, which is specifically designed to automate stock transfers.
Calastone claims that its Transfer Service will enable improve IW&I’s efficiency by completing stock transfers within days rather than weeks.
IW&I head of settlements Ann Mosey said: "By connecting to Calastone’s Transfer Service, we look forward to benefitting from the efficiencies that straight-through processing brings. A key goal for us is to undertake and complete transfers for the majority of cases within a day, thus driving valuable operational and cost efficiencies."
Calastone chief commercial officer Jon Willis said: "Calastone’s Transfer Service intelligently re-uses technology to automate simple nominee-to-nominee stock transfers and is complementary to our TeX-compliant Re-registration solution."
Apart from Investec Wealth & Investment, other firms including Rathbone Investment Management have too adopted the Calastone Transfer Service.