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Exclusive – Misys to offload IFA networks

Misys will offload its IFA businesses as a separate entity within two years, and is expanding its operations to build value ahead of the sale.

It says it does not see Misys IFA Services as a natural fit in the company in the future and will float its network businesses and Assureweb to allow it to focus on its core competence as a software company.

The Countrywide, DBS, Financial Options, IFA Network and Kestrel names will remain for the present, but are likely to be merged post-CP121 and the overall group will be given a new brand name on flotation.

DBS will be brought under the Misys IFA Services management team and compliance regime as part of its strategy to get the business into shape ahead of the sale.

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