FFW advises Threadneedle Investments on major outsourcing deal
18 August 2006
Field Fisher Waterhouse LLP (FFW) advised Threadneedle
Investments, the global asset management company, on the
outsourcing of its Investment Operations service. JP Morgan Chase
Bank was chosen by Threadneedle Investments to be the provider of
the outsourced Investment Operations service.
Threadneedle Investments manage more than £70.4 billion of
assets for private investors, pension schemes, insurance companies,
corporations, mutual funds and affiliate companies. It is the
fourth largest retail investment funds manager in the UK.
Threadneedle’s Investment Operations service is responsible for
the processing of all transactions. It is expected that
control of Swindon-based Investment Operations service will be
transferred to JP Morgan Chase Bank in October this year. The
outsourcing will be via an initial “lift out” of Threadneedle’s
operations. This covers confirmation and settlement, valuations and
pricing, and accounting activities for all of Threadneedle’s
funds.
The outsourcing is to improve business efficiency, and is part
of bigger trend that sees outsourcing becoming more popular within
the financial industry as the sector becomes more specialised. The
outsourcing of Threadneedle’s Investment Operations follows the
outsourcing of its retail operations a few years ago, on which FFW
advised.
FFW Commercial and Finance Partner Andrew Evans led the team,
and was assisted by Funds Partner Kirstene Baillie and solicitor
Graham Busby. Owen Jackson was seconded to Threadneedle in order to
work on the deal. He worked closely with Threadneedle’s Head
of Legal Affairs, Mark Cooper.
The team also included specialists Paul Barton, David Gallagher,
Richard Kenyon and Howard Coffell.
This project demonstrates FFW’s position as a leading adviser on
outsourcing agreements, particularly in the financial
sector.
Andrew Evans said: “We expect to see more outsourcing deals in
the financial sector, which is part of a growing trend, as the
industry becomes more specialised.”
JP Morgan Chase Bank was advised by in-house counsel.
For further press information please contact:
Ben Girdlestone, Communications Manager on +44 (0) 20 7861
4968
Louise Eckersley, PR Executive on +44 (0)20 7861 4120