Turnover In Senior ADP Executive Ranks, But Merrin Boss Says Unit Is Not For Sale
VENDOR BRIEFING
If nothing else, Christine Berthet's departure as the head of Automatic Data Processing's strategic investments group has at least raised questions about the future prospects of the firm's efforts to expand its brokerage services business into the institutional market. It has even fueled rumors that ADP's Merrin Financial unit is being shopped around.
No one outside the company knows for sure whether Merrin is truly for sale, and a corporate spokeswoman for ADP says she is unaware of any effort
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