Computershare
{{short description|Australian financial services company}}
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{{third-party|date=November 2012}}
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{{Use dmy dates|date=September 2020}}
{{Use Australian English|date=January 2012}}
{{Infobox company
| name = Computershare Limited
| logo = Computershare logo.svg
| type = Public
| traded_as = {{asx|CPU}}
| foundation = {{start date and age|1978}}
| founder =
| location_city = Abbotsford, Victoria
| location_country = Australia
| industry = Financial services
| owner =
| homepage = {{URL|http://computershare.com/}}
}}
Computershare Limited is an Australian stock transfer company that provides corporate trust, stock transfer, and employee share plan services in many countries.
The company currently has offices in 20 countries, including Australia, the United Kingdom, Ireland, the United States, Canada, the Channel Islands, South Africa, Hong Kong, New Zealand, Germany, and Denmark.
History
Computershare Limited was founded in 1978 in Melbourne, Australia, and has grown largely through overseas acquisitions.
In 1997, the Australian-based Computershare expanded its registry business to include financial markets in New Zealand and the United Kingdom{{Cite web |url=http://www.computershare.com/au/about/Pages/history.aspx |title=Computershare – About Computershare – Company History |access-date=19 December 2013 |archive-date=19 December 2013 |archive-url=https://web.archive.org/web/20131219193916/http://www.computershare.com/au/about/Pages/history.aspx |url-status=live }} and acquired the Royal Bank of Scotland's registrar department. In subsequent years, it expanded its business into Ireland, India, South Africa, and Hong Kong.
Computershare and the firm SETL began collaborating on a blockchain project in 2016.{{Cite news |last=Kelly |first=Jemima |date=2016-04-28 |title=Computershare teams up with start-up SETL on blockchain project |url=https://www.reuters.comarticle/idUSKCN0XP1NL/ |access-date=2023-11-24 |work=Reuters |language=en-US}}{{Dead link|date=December 2024|bot=InternetArchiveBot|fix-attempted=yes}} In Nov. 2017, Georgeson LLC, a unit of Computershare Ltd, paid $ 45 million to resolve claims by US prosecutors that it had used bribes to obtain confidential information.{{Cite news |last=Raymond |first=Nate |date=2017-11-30 |title=Computershare's Georgeson unit resolves U.S. fraud probe for $4.5 million |url=https://www.reuters.comarticle/idUSKBN1DU2MF/ |access-date=2023-11-24 |work=Reuters |language=en-US}}{{Dead link|date=December 2024|bot=InternetArchiveBot|fix-attempted=yes}} The Louisville office of Computershare had 650 employees in May 2018.{{Cite web |title=Large sign on downtown tower marks Louisville hiring milestone for Computershare |url=https://www.bizjournals.com/louisville/news/2018/05/10/large-sign-on-downtown-tower-marks-louisville.html |access-date=2023-11-24 |website=www.bizjournals.com}} In Nov. 2018, the chairman of Computershare was Simon Jones. Stuart Irving was CEO.{{Cite web |last=Kruger |first=Colin |date=2018-11-14 |title=Computershare gets first strike over CEO's expat expenses |url=https://www.smh.com.au/business/companies/computershare-gets-first-strike-over-ceo-s-expat-expenses-20181114-p50g0h.html |access-date=2023-11-24 |website=The Sydney Morning Herald |language=en}}
In February 2023, Computershare called for an investigation into the exchange ASX for an alleged conflict of interest concerning the CHESS project, which had collapsed in November 2022.{{Cite web |date=2023-02-23 |title=Share registry targets ASX's CHESS conflict of interest |url=https://www.afr.com/companies/financial-services/share-registry-targets-asx-s-chess-conflict-of-interest-20230223-p5cmvc |url-status=live |archive-url=https://web.archive.org/web/20231119220856/https://www.afr.com/companies/financial-services/share-registry-targets-asx-s-chess-conflict-of-interest-20230223-p5cmvc |archive-date=19 November 2023 |access-date=2023-11-24 |website=Australian Financial Review |language=en}}
Acquisitions and sales
In 2004, Computershare acquired the stock transfer sectors of Harris Bank and Montreal Trust and purchased the German-based Pepper Technologies AG.{{cite news |url=http://www.theage.com.au/articles/2004/02/03/1075776057565.html?from=storyrhs |title=Computershare develops a taste for Pepper |publisher=Fairfax |date=4 February 2004 |access-date=21 December 2015 |archive-date=13 April 2010 |archive-url=https://web.archive.org/web/20100413083928/http://www.theage.com.au/articles/2004/02/03/1075776057565.html?from=storyrhs |url-status=live }} Since 2004, Computershare has acquired registry companies in Russia and India.
In 2005, the company acquired Equiserve.{{Cite web|date=2004-10-21|title=Computershare acquires US company|url=https://www.smh.com.au/business/computershare-acquires-us-company-20041021-gdjylx.html|access-date=2020-09-08|website=The Sydney Morning Herald|language=en|archive-date=23 April 2021|archive-url=https://web.archive.org/web/20210423075806/https://www.smh.com.au/business/computershare-acquires-us-company-20041021-gdjylx.html|url-status=live}}{{Cite news |last=Wright |first=Stephen |date=22 October 2004 |title=Computershare Buys EquiServe, Expands in U.S. |url=https://www.wsj.com/articles/SB109838236314252085 |access-date=23 January 2024 |work=The Wall Street Journal}}
In 2006 the company bought the shareholder management services from National Bank of Canada.{{cite web |url=http://www.nbc.ca/bnc/cda/content/0,2662,divId-2_langId-1_navCode-10683,00.html |title=National Bank History |date=2008 |publisher=National Bank of Canada |access-date=19 December 2013 |archive-date=20 December 2013 |archive-url=https://web.archive.org/web/20131220015727/http://www.nbc.ca/bnc/cda/content/0,2662,divId-2_langId-1_navCode-10683,00.html |url-status=dead }}
In July 2007, Computershare acquired Datacare Software Group and its products GCM and Boardworks.{{Cite web|title=Datacare Acquisition|url=https://www.computershare.com/News/Computershare%20-%20Acquisition%20of%20Datacare.pdf|url-status=live|website=Computershare|archive-url=https://web.archive.org/web/20120321160312/http://www.computershare.com/News/Computershare%20-%20Acquisition%20of%20Datacare.pdf |archive-date=21 March 2012 }} Currently known as Computershare Governance Services and its main product GEMS.
In February 2008, Computershare announced a cash takeover offer for Australian mailhouse group QM Technologies Limited.{{Cite news|url=http://www.smh.com.au/business/computershare-says-qmt-bid-unconditional-20080401-2339.html|title=Computershare says QMT bid unconditional|date=2008-04-02|work=The Sydney Mornin Herald|access-date=2017-03-27|language=en-US|archive-date=28 March 2017|archive-url=https://web.archive.org/web/20170328195223/http://www.smh.com.au/business/computershare-says-qmt-bid-unconditional-20080401-2339.html|url-status=live}}
In September 2008, Computershare bought Lichfield based Childcare Voucher Services business called Busy Bees.{{Cite web|title=Computershare Voucher Services: Parent Information Pack|url=https://www.uel.ac.uk/hrservices/documents/others/CVSParentInformationPack.pdf|url-status=live|access-date=8 September 2020|website=Computershare|archive-url=https://web.archive.org/web/20210423075824/https://www.uel.ac.uk/hrservices/documents/others/CVSParentInformationPack.pdf |archive-date=23 April 2021 }} The name has been re-branded to Computershare Voucher Services or CVS.
In February 2010, Computershare acquired HBOS Employee Equity Solutions from Lloyds Banking Group for a sum of around £40m.{{Cite web|title=Computershare Acquires HBOS Employee Equity Solutions {{!}} Mergr|url=https://mergr.com/computershare-acquires-hbos-employee-equity-solutions|access-date=2020-09-08|website=mergr.com|archive-date=23 April 2021|archive-url=https://web.archive.org/web/20210423075824/https://mergr.com/computershare-acquires-hbos-employee-equity-solutions|url-status=live}}
In January 2012, Computershare acquired Shareowner Services (Stock Transfer Sector) from Bank of New York Mellon (BNYM) for a sum of around $550 Million.{{cite news |url=https://www.wsj.com/articles/SB10001424052970204554204577022811754429478 |title=Computershare Gets BNY Mellon Deal Approval |date=7 November 2011 |work=The Wall Street Journal}}
In June 2013, Computershare Limited completed the acquisition of the EMEA–based portion of Morgan Stanley's Global Stock Plan Services business.{{Cite web|date=2015-08-11|title=Computershare to Acquire Morgan Stanley's EMEA Shares Business 03-2013|url=https://www.globalequity.org/geo/node/4602|access-date=2020-09-08|website=GEO|language=en|archive-date=20 October 2020|archive-url=https://web.archive.org/web/20201020205558/https://www.globalequity.org/geo/node/4602|url-status=live}}
On 12 November 2018, it completed acquisition of Equatex Group Holding AG, formerly European shares plan business of UBS.{{Cite web|url=https://www.asx.com.au/asxpdf/20181112/pdf/4405x5kfk34lp9.pdf|title=CPU completes Equatex acquisition|access-date=20 February 2019|archive-date=20 February 2019|archive-url=https://web.archive.org/web/20190220122731/https://www.asx.com.au/asxpdf/20181112/pdf/4405x5kfk34lp9.pdf|url-status=live}} The deal had been announced on 16 May 2018.{{Cite web|url=https://www.computershare.com/News/Equatex%20Media%20Statement.pdf|title=Computershare to buy Equatex – a European share plans business|access-date=20 February 2019|archive-date=20 February 2019|archive-url=https://web.archive.org/web/20190220181307/https://www.computershare.com/News/Equatex%20Media%20Statement.pdf|url-status=live}}
On March 23, 2021, Computershare acquired Wells Fargo Corporate Trust business for $750 million{{Cite web|date=2021-03-23|title=Wells Fargo Enters Agreement with Computershare to Sell Wells Fargo Corporate Trust Services|url=https://www.businesswire.com/news/home/20210323006085/en/Wells-Fargo-Enters-Agreement-with-Computershare-to-Sell-Wells-Fargo-Corporate-Trust-Services|access-date=2021-05-12|website=www.businesswire.com|language=en|archive-date=12 May 2021|archive-url=https://web.archive.org/web/20210512060026/https://www.businesswire.com/news/home/20210323006085/en/Wells-Fargo-Enters-Agreement-with-Computershare-to-Sell-Wells-Fargo-Corporate-Trust-Services|url-status=live}} in the United States.{{Cite web |date=2021-03-24 |title=Computershare's $1b 'delicate dance' in the US |url=https://www.afr.com/technology/computershare-s-1b-delicate-dance-in-the-us-20210324-p57dkp |access-date=2023-11-24 |website=Australian Financial Review |language=en |archive-date=19 November 2023 |archive-url=https://web.archive.org/web/20231119220856/https://www.afr.com/technology/computershare-s-1b-delicate-dance-in-the-us-20210324-p57dkp |url-status=live }}
The company acquired SunDoc Filings in Sacramento, California in May 2023. Computershare Governance Services at that time was a subsidiary of Computershare Ltd., which was based in Melbourne, and was still traded on the Australian Securities Exchange and had 14,000 employees. It also had operations in around 20 countries after various acquisitions.{{Cite web |title=Australia's Computershare to acquire Sacramento's SunDoc Filings |url=https://www.bizjournals.com/sacramento/inno/stories/news/2023/05/11/computershare-acquiring-sundoc-filings.html |access-date=2023-11-24 |website=www.bizjournals.com |archive-date=16 November 2024 |archive-url=https://archive.today/20241116001024/https://www.bizjournals.com/sacramento/inno/stories/news/2023/05/11/computershare-acquiring-sundoc-filings.html |url-status=live }} In October 2023, the company sold its mortgage services unit to Rithm Capital{{cite web|url=https://www.axios.com/pro/fintech-deals/2023/10/02/rithm-capital-computershare-mortgage-business|title=Rithm Capital to buy Computershare mortgage business|date=2 October 2023|first=Ryan|last=Lawler|publisher=Axios|url-access=subscription|archive-url=https://web.archive.org/web/20231119220856/https://www.axios.com/pro/fintech-deals/2023/10/02/rithm-capital-computershare-mortgage-business|archive-date=19 November 2023|url-status=live}} in the U.S. for US$ 720 mln.{{Cite web |date=2023-10-03 |title=CPU ASX: Computershare offloads US mortgages unit for $1.13b |url=https://www.afr.com/companies/infrastructure/computershare-offloads-us-mortgages-unit-for-1-13b-20231003-p5e99k |access-date=2023-11-24 |website=Australian Financial Review |language=en |archive-date=19 November 2023 |archive-url=https://web.archive.org/web/20231119220857/https://www.afr.com/companies/infrastructure/computershare-offloads-us-mortgages-unit-for-1-13b-20231003-p5e99k |url-status=live }}{{Cite news |last=Chatterjee |first=Rishav |date=2023-10-03 |title=Australia's Computershare to sell US mortgage portfolio for $720 mln |language=en |work=Reuters |url=https://www.reuters.com/markets/deals/australias-computershare-sell-us-mortgage-portfolio-720-mln-2023-10-02/ |access-date=2023-11-24 |archive-date=19 November 2023 |archive-url=https://web.archive.org/web/20231119222358/https://www.reuters.com/markets/deals/australias-computershare-sell-us-mortgage-portfolio-720-mln-2023-10-02/ |url-status=live }}
On April 25, 2024, Computershare announced that it had agreed to acquire BNY Trust Company of Canada, the Canadian corporate trust division of BNY Mellon.{{Cite web |date=26 April 2024 |title=Computershare to acquire BNY Trust company of Canada - Asset Servicing Times |url=https://www.assetservicingtimes.com/assetservicesnews/industryarticle.php?article_id=15507 |access-date=2025-01-23 |website=Asset Servicing Times}}{{Cite web |date=2024-04-25 |title=Computershare to buy BNY Trust Company of Canada for $98m |url=https://www.capitalbrief.com/briefing/computershare-to-buy-bny-trust-company-of-canada-for-98m-5a698050-9b2d-4685-9222-cb849cf07c05/ |access-date=2025-01-23 |website=Capital Brief |language=en}}
Legal issues
In December 2015, the Central Bank of Ireland reprimanded and fined Computershare €322,500 for a number of breaches of the law related to the certainty of ownership of client assets.{{cite web |url=http://www.irishexaminer.com/business/central-bank-fines-investor-services-firm-computershare-322500-372210.html |title= Central Bank fines investor services firm Computershare €322,500 |publisher= The Irish Examiner |date=18 December 2015}}
References
{{Reflist}}
External links
- {{Official website|https://www.computershare.com/}}
{{S&P/ASX 50}}
Category:Australian companies established in 1978
Category:Business process outsourcing companies
Category:Business services companies established in 1978
Category:Companies based in Melbourne
Category:Companies listed on the Australian Securities Exchange