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A.G. Edwards taps IBM for $50 million upgrade.
A.G. Edwards & Sons Inc. has cut a deal with IBM to provide equipment, installation and management for new work stations for the brokerage firm's 6,500 brokers.
The contract - estimated to be worth at least $50 million - gives IBM a supplier agreement for A.G. Edward's 641 branch offices as well as its St. Louis headquarters, investment banking offices and trading offices.
The decision to make the change comes as A.G. Edwards continues to see stock trades rise, up 12 percent for the first nine months of its fiscal year. Discussions with IBM started last summer.
This marks IBM's second major sale to a brokerage firm here in the past year.
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