View more on these topics

Ivan Martin – exclusive interview

In an exclusive interview with Money Marketing, Misys banking and securities division chief executive Ivan Martin says:

Misys intends to float its IFA network businesses within two years, creating a self-contained entity comprising the five networks – Countrywide, DBS, Financial Options, IFA Network and Kestrel and the software arm.

Misys is known as a software business – we get discounted in the market for being a conglomerate so our vision is that Misys should concentrate on its core competencies as a software company and float the life and pensions business.

Our aim is to build value in the company over the next two years and then float the Misys IFA Services part of the company to crystallise some of that value.

Our plan to expand the business prior to flotation includes targeting bancassurers and others in the post-CP121 environment with technology solutions, end-to-end processing, compliance services, business monitoring and research capabilities.

We may move into offering our own wrap products and aggregation technology services. We won&#39t go into manufacturing products but we might start packaging them.

After the FSA&#39s review into depolarisation has concluded and we have a better idea of how the marketplace is likely to develop we will look at rationalising the networks and segmenting a number of the offerings. When the new rules are implemented, and we are offering IFA, multi-tie and white-label services we will look at what existing brands would be most appropriate to what sectors.

We believe that Misys is a well-recognised and trusted trademark in the business to business marketplace and in the short term we would want to capitalise on that. But the high profile the float will create will create the right time to launch a new name for the new company.

Our expansion project involves increasing the size of our distribution capability. We do not comment on acquisition rumours but we won&#39t rule out acquiring new distribution channels. But our focus is more about creating new product offerings.

We have said in our statement that IFAs will share in the benefits of the flotation. They will see a commitment from us in terms of recruitment incentives, loyalty and retirement options. Member firms will get options on shares at the time of the floatation, although exactly how that will be worked out is yet to be determined.

Assureweb will remain contained inside the newly floated business. Assureweb is a self-contained business in its own right within Misys plc and has very little dependence on the group as a whole so will not suffer from being separated from Misys itself.

Recommended

NDF links to Eurostoxx for 11th time

NDF Administration has established the 11th edition of its extra income and growth plan.This guaranteed equity bond has a term of three years and two months. It gives investors a choice between growth of 33 per cent, annual income of 10 per cent or monthly income of 0.78 per cent. It tracks the performance of […]

ACA calls on Revenue to simplify pensions

The Association of Consulting Actuaries is calling for financial incentives and the simplification of Inland Revenue requirements, in line with Pickering&#39s proposals, to encourage pension provision.While the ACA welcomes many of Pickering&#39s proposals, it is concerned that a move to immediate vesting will increase employer costs and increase the administrative burden.ACA chairman Gordon Pollock says: […]

Sandler launchpad for Asda&#39s entry into market

Supermarket giant Asda is planning to launch into the UK retail financial services market on the back of Ron Sandler&#39s review.While not giving any details as to when it hopes to launch or with what products, the grocery chain says Sandler&#39s recommendation of a “stakeholder” family of products has provided motivation to build a presence […]

Aberdeen suspends two more splits

Aberdeen Asset Managers was forced to suspend trading in two more of its split cap investment trusts yesterday.Its Leveraged Income and the Aberdeen High Income Trust suspended their shares as they entered discussions with the banks and other creditors.Just last week, Aberdeen suspended its Media & Income trust on the same day chief executive Martin […]

Rayner Spencer Mills: Why we rate the Artemis US Select Fund

Ken Rayner and Graham O¹Neill from RSM explain why they rate the fund, its investment process and how it can be used in a portfolio The Artemis US Select Fund became a RSM ‘rated’ fund earlier this year. In this video, Ken Rayner and Graham O’Neill explain the fund’s investment approach, why they rate it, […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    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

    Email: customerservices@moneymarketing.com