View more on these topics

Pru staff moving to Capita in outsourcing deal

Capita has signed a 40m three-year outsourcing contract with Prudential to provide its life and pension back-office systems.

The deal will see around 540 Prudential support staff move into Capita, largely from its call centre, the direct-to-consumer offering, PruDirect, and its support services operations in Belfast.

The move will take place in early autumn under the Transfer of Undertakings (Protection of Employment) Regulations, meaning all staff will become employees of Capita but will continue to undertake their existing duties.

The deal is expected to generate around 40m for Capita over the three-year term, after which Pru has an option to renew on a rolling basis.

Capita has been providing admin services to Pru’s international cross-border life insurance portfolio of new and existing business since 2003.

Pru says it is monitoring the development of the UK’s wrap market and is looking for a partner although it is too early to say if it will choose Capita.

Capita chief executive Paul Pindar says: “We are delighted to have this opportunity to further support Prudential by playing a key role in the development and success of its UK life and pension business.”

Prudential chief executive Nick Prettejohn says: “This has been a very difficult time for all our staff in Belfast but throughout this period they have continued to provide an excellent service to customers.

“This outsourcing agreement helps provide them with continued employment and enables us to maintain the highest standards of custo- mer service while delivering the efficiencies and cost savings we announced earlier in the year.”

Recommended

In the Pink over case of mistaken identity

As lookalikes go, Money Marketing is struggling to think of who Pink Home Loans managing director Tony Jones may bear a striking resemblance to but he was mistaken for a celebrity by a friendly Big Issue seller while being snapped for his profile in this week’s MM outside the celebrity hangout and restaurant The Ivy […]

First4Brokers’ ARs can carry on business

Appointed representatives of intermediary First4- Brokers have been told that they can carry on conduc- ting business. Administrator Moore Ste-phens says that as F4B is still a regulated entity, its 29 ARs can continue trading, even though it advises them not to. The FSA has come under fire for failing to protect F4B’s ARs. Network […]

Out of context

“Do you think we should take a leaf out of their book and give out lives a rest?”Technology and Technical’s Kim North to Mitchell Moneypenny’s Nicola Mitchell about two virtuous Money Marketing reporters.“Maz has a strange selection of people coming tonight. There are clients and everything.”Despina Constantinides on colleague Marlene Scott’s birthday celebration“I believe we […]

Teamspirit sets up PR company

Financial services marketing company Teamspirit has launched a public relations company. Teamspirit PR aims to gain coverage for its financial services clients not just in the money pages but also in the consumer press, TV, radio and online.

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