Computershare says it will service three out of every five outsourced UK mortgages from next month.
The firm will soon add £41 billion of UK Asset Resolution (UKAR) assets to the book that it manages, bringing its total to £73 billion or 62% of the total market.
From early June, UKAR’s 1,700-strong staff will transfer to Computershare’s newly-established loan services business, including CEO Richard Banks.
Naz Sarkar, CEO of Computershare in the UK, said: “We’re delighted to be welcoming UKAR colleagues to the company this summer.
“We’re especially pleased to be working with Richard, who brings with him a wealth of knowledge and expertise in the mortgage servicing industry, backed up by UKAR’s exceptional debt management and customer service capabilities.”
Computershare’s UKAR appointment followed its acquisition of Homeloan Management Limited (HML), the UK’s leading mortgage servicing company, in November 2014.
Andrew Jones, previously CEO at HML, will be CEO of Computershare Loan Services, with Banks taking on the deputy CEO role.
Later this year, HML will be re-branded Computershare Homeloan Management, with Andrew Freeley, previously proposition director, heading up the division and also reporting to Jones.
Jones said: “By bringing our mortgage servicing businesses together under one umbrella, Computershare has redefined the mortgage sector and created compelling new opportunities for mortgage providers looking to outsource their administration.
“We’re looking forward to welcoming a number of significant new clients over the next 12 months, and further strengthening our existing relationships with UKAR, as well as the new owners of former UKAR assets.”
