Will this chip work?

I have an HP Z420 Workstation that I want to speed up.  Will the processor below in blue work?  I currently have the following installed:

3.20 gigaherz Intel Xeon E5-1650 0
384 kilobyte primary memory cache
1536 kilobyte secondary memory cache
12288 kilobyte tertiary memory cache
64-bit ready
Multi-core (6 total)
Hyper-threaded (12 total) 

Intel Xeon E5-2687W 3.1GHz Eight Core SR0KG (CM8062107184308) Processor