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ADP snaps up BOA unit and launches outsourcing strategy
ADP Brokerage Services Group (ADP), a division of Automatic Data Processing, has announced plans to implement a new business process outsourcing (BPO) strategy designed to meet the needs of a range of firms in the financial services industry. As part of this BPO strategy, ADP has reached an agreement to acquire the US Clearing and BrokerDealer Services divisions of Bank of America. The transaction is subject to regulatory review and is expe