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Capita appointed as servicer to NAMA in Ireland

12th Aug 2013 11:22

Capita plc - Capita appointed as servicer to NAMA in Ireland

Capita plc - Capita appointed as servicer to NAMA in Ireland

PR Newswire

London, August 12

12 August 2013 Capita Asset Services officially appointed as servicer to the National AssetManagement Agency (NAMA) in Ireland Capita Asset Services, part of Capita plc, has been officially appointed by theNational Asset Management Agency (`NAMA') in Ireland as primary and specialloan servicer on the NAMA loans acquired under the NAMA Act 2009 and currentlybeing managed on behalf of NAMA by the special liquidators, Irish BankResolution Corporation (`IBRC'). Under the contract, Capita will deliver primary servicing for NAMA loans withnominal balances of €41 billion. For €5.1 billion of this, Capita will alsoprovide special servicing in the management of over 300 debtors under aframework from NAMA. The contract is worth approximately €80 million (around £69m) over 4 years and will commence on 12 August 2013. An additional 140employees will be taken on by Capita as a result of the contract. Commenting on the deal, Paul Pindar, Capita plc chief executive, said: "We arepleased to have been appointed to such an important mandate. The contract is anexcellent strategic fit for Capita in that it fully complements our existingbusiness in terms of services, clients and professional staff and we arepleased to welcome all new members of staff." Capita has been acting as master servicer to NAMA since 2010 and it willcontinue in this role in addition to its new responsibilities. Capita has morethan 800 employees in Ireland and in May 2013 it confirmed its aspiration todouble that headcount over the next 3 years. Capita Asset Services, which has offices in the UK, Ireland and Germany isEurope's largest independent third party commercial mortgage servicer,providing loan administration, facility agent, asset management and specialservicing to the banking and securitisation markets. It currently manages over£30 billon of commercial real estate loans on behalf of international banks inEurope. It also specialises in loan default management. For further information: Capita plc Tel: 020 7654 2306 Shona Nichols, Corporate Communications Director Media enquiries Capita press office Caroline Mooney Tel: 0207 654 2152 or 020 7654 2399 (out of hours) Capita plc is the UK's leading provider of business process management andintegrated professional support service solutions. With 52,500 people at morethan 350 sites, including 70 business centres across the UK, Europe, India andSouth Africa, the Group uses its expertise, infrastructure and scale benefitsto transform its clients' services, driving down costs and adding value. Capitais quoted on the London Stock Exchange (CPI.L), and is a constituent of theFTSE 100 with 2012 revenue of £3.3 billion and profit before tax of £426million. Further information on Capita plc can be found at: www.capita.co.uk.

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