New York-listed FIS, a provider of banking and payments technology, today announced its intention to buy all of TD Wealth Institutional Holdings (UK).

Such an acquisition will have to be approved by the UK’s Financial Conduct Authority, a statement from FIS, which gave few other details about its proposal in terms of potential timings and strategy, said.

TD Wealth Institutional is part of Canada’s TD Bank. In June last year, the firm announced it was extending its wealth management services.

TD Wealth Institutional provides services such as outsourced clearing and settlements to institutional and retail brokers and fund managers. It provides the infrastructure to handle tasks such as portfolio management, order management, execution and custody administration.

FIS, meanwhile, serves more than 14,000 institutions in over 100 countries and is headquartered in Jacksonville, FL, with a total workforce of more than 35,000.