Reconciliation specialists Watson Wheatley has closed out its financial year with record turnover and the biggest increase in client numbers in the firm’s 10-year history.
Turnover, excluding prepayments at the firm, whose clients include hedge funds, long-only asset managers and commodities traders, for the 2017/18 financial year is up 33 per cent on 2016/17, accounted for by a significant increase in new business driven by enhanced system functionality and deep knowledge of reconciliation processes. Client numbers also increased by 30 per cent marking the most successful year ever for the UK-based firm.
Tom Wheatley, COO at Watson Wheatley, says: “We are extremely pleased with the performance of Watson Wheatley in the 2017/18 financial year and the team here have worked very hard to achieve this. We have on-boarded a record number of new clients whilst continuing to provide excellent service for our existing customers. Features like our EMIR reconciliation and fully automated daily processing have allowed us to attract new business. Our existing clients are also very happy to act as references and these word of mouth recommendations have solidified a number of sales for us.”