APRL and Lloyds are major providers of share registry and employee share plan services to listed companies in Australia and the UK.
APRL and Lloyds have provided cooperative services for each other's clients for some time, for example providing shareholder services for the Hanson plc takeover of Pioneer and services to the combined Commonwealth Bank and Colonial registers. In the UK and Australia the alliance will provide:
- Improved issuer reporting services
- Improved employee shareholder plan services for staff in Australia and the UK
- Information exchange about client needs and identification of opportunities for new or additional cross-border services to existing clients
- Regular exchange of marketing and strategy ideas
"Our strategic alliance approach is therefore to develop a global "best of breed" relationship that can offer high level service," he said.
"The registry business is unique in each jurisdiction: tax and legal frameworks are different, local market and settlement processes vary. Needs of issuers and shareholders are diverse. As the needs of issuing companies globalise, the importance of expert local partners increases," he said.
"Despite the need for local specialisation, there are common global trends. These trends include continuing retail investor growth; increasingly complex issuer needs; globalisation of market activity and of trading and settlement systems; and growth of employee share plans.
"The aim of our strategic alliance is to link the specialised local expertise of the leading registries in the UK and Australia. In doing so it will form an important step towards satisfying the fast expanding need of corporations and their shareholders to have access to a seamless registry service able to meet their international needs.
It is expected that similar linkages will be established with partners in other jurisdictions., including the United States. Talks are already underway with interested share registry service providers.
Simon Davies, managing director of Lloyds TSB Registrars said, "These are exciting times for registrars. We occupy a unique position in the investment administration industry, allowing the corporate issuer to speak directly to the investor.
"Globalisation and new technologies open new business opportunities, and this alliance has positioned us to take advantage of these opportunities," he said.
