View more on these topics

Friends Provident signs £200m deal with IBM

Friends Provident has signed a 10-year outsourcing deal with IBM worth £200m.

The move, which could save the firm £6m in annual cost savings, sees Friends Prov’s IT and infrastructure services outsourced to the US technology firm.

The contract, due for completion in March 2009, means 200 of the provider’s employees will transfer to IBM and its partners.

Friends Prov chief executive officer Trevor Matthews says: “This is a big step forward in achieving our targeted £40m of annual cost savings by the end of 2009. The cost savings we will realise under this contract will help to make Friends Prov a leaner, fitter and more efficient business without compromising the market leading levels of service we are renowned for.”

IBM Global Technology Services general manager for UK and Ireland Bruce Ross says the agreement allows the firm to enhance integration and improve flexibility and support for Friends Prov’s business requirements.



Cummings says banks shutting down IFA firms

Aifa is warning of a growing number of banks closing the business accounts of IFAs and suggests that this could be an attempt to wipe out distribution competition.

Beta test

I have heard people talk about the link between risk and reward in investment. Could you please explain it to me and tell me what relevance it has to my investment portfolio?


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm