(RTTNews) - Morgan Stanley (MS) said Tuesday that it reached a deal to migrate the Barclays Global Stock and Rewards business to Shareworks by Morgan Stanley. The deal is expected to bring about 40 new corporate clients to Shareworks, encompassing more than 140,000 stock plan employees.
Barclays' corporate stock plan clients have already been using Shareworks' stock plan administration services platform for the past eight years through a white-label arrangement.
Morgan Stanley noted that clients will continue to be managed by their current Shareworks service and relationship management teams and will continue to benefit from the same technology platform that both companies have delivered.
Shareworks in the EMEA region provides technology and outsourced services to European issuers across both public and private markets.
Established in the UK in 2012, Shareworks in EMEA has more than 120 employees in the UK, Germany and Spain now servicing over 100 companies.
Before the migration of the Barclays stock plan business, Shareworks' EMEA client base employed more than 125,000 stock plan participants who hold more than 14 billion euros or US$16.5 billion in stock plan assets, Morgan Stanley said.
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