Sesame says as 1,450 advisers have been recruited into its multi-tie proposition it expect network members to fall as a result.
According to parent Misys’ latest interim results, Sesame is still for sale despite operating profit improving by over 100 per cent to 8m.
Misys says Sesame is still seen as non-core strategically and is embarking on a three to five year turnaround strategy to improve its overall financial position, following last year’s failed takeover bid.
Chief executive Mike Lawrie says: “Sesame, which remains non-core to us strategically, capitalised on favourable market conditions and product demand to perform strongly.
“We are developing a programme for Misys which will clearly set out how
we intend to turn the business around, which I see as a three to five year
process. The goal is to improve our performance across all areas, driving real, sustainable value for customers, employees and shareholders, and letting our stakeholders know what we will hold ourselves accountable for delivering.
“We are initially focusing on four priority areas – our financial roadmap, our development effectiveness; our customer-facing activities and a complete review of our healthcare and core Banking strategic direction.
“It is clear that we have a real opportunity to increase the value we
deliver to all stakeholders and I am truly energised by the opportunity here. I
look forward to beginning to articulate our game plan for Misys in early March.”