BLP advises Old Mutual Asset Managers on transfer agency services outsourcing contract
Berwin Leighton Paisner (BLP) recently advised Old Mutual Asset Managers (UK) Limited (OMAM), the London-based investment management arm and subsidiary of Old Mutual plc, a leading international financial services group, on its outsourcing contract with International Financial Data Services Limited (IFDS).
The arrangement, which is set to commence in December 2008, is OMAM’s first outsourcing of its transfer agency function to an external provider. The deal represents an important engagement for OMAM, enabling it to focus on its core functions, whilst leveraging the experience of a specialist provider of transfer agency services.
OMAM manages a range of funds, including for UK retail clients, which invest in the world’s major equity and bond markets. OMAM selected IFDS as its preferred supplier for undertaking its transfer agency functions following a competitive tender process.
The BLP team advising OMAM was led by partner Amanda Lewis and senior associate Usman Wahid, both of whom are part of BLP’s specialist outsourcing team. They advised on the contractual and outsourcing aspects of the negotiations. BLP partner Alexandra Davidson and senior associate Martha Quinn also advised on employment, TUPE and pensions issues.
Commenting on the deal, Usman Wahid said: “We were very pleased to be able to assist OMAM on this outsourcing contract. This arrangement represents an important step for OMAM and will enable them to continue to deliver a focussed and strategic service to their clients.”
If you would like any further information, please contact our press office at email@example.com.