Industrial Alliance Securities Inc. has selected National Bank Correspondent Network as its back office services partner.

Beginning July 23, NBCN will provide a suite of clearing, settlement, custody and operational support services to full service investment dealer unit of Industrial Alliance Insurance and Financial Services Inc.

IA Securities determined that by outsourcing its back-office to NBCN, it would be better positioned to manage for growth, realize new operational efficiencies through NBCN’s automated operations processing and take advantage of cost savings afforded by NBCN’s size and scale.

“At IA Securities, we strive to deliver the highest level of service to our investment advisors and investor clients,” commented Lise Douville, president of IA Securities.

“Outsourcing to NBCN presents a tremendous opportunity to make the business stronger.”

Created in 2002, IA Securities administers over $2.2 billion in assets.

IE