ADP Brokerage Services Group, the transaction services company, has inked two outsourcing deals with WestLB to process the German bank's treasury functions in London and debt instruments worldwide.

The deals mark one of the first large scale forays into Europe for the outsourcing company which is well established in US banking circles and counts WestLB as a client in North America. European banks have been slower in the take up of money-saving outsourcing services because of the lack of breadth of outsourcing providers and inappropriate coverage in terms of products and geographies, according to a KPMG report earlier this year.