Credit Suisse has appointed financial outsourcing provider, Target Loan Servicing, to manage and service its fixed term deposit portfolio.

Target Loan Servicing concentrates in business process outsourcing (BPO) for banks and portfolio owners. It will provide full account administration, customer servicing and manage all redemptions for the Credit Suisse fixed term deposit portfolio. In addition to processing early surrenders, redemptions on maturity, complaints handling, valuations and annual statements, Target will also perform regular compliance monitoring and audit activity.

Credit Suisse has been a client of Target Loan Servicing since early 2009. It continues to manage a significant motor finance portfolio on behalf of the Credit Suisse Group.

John-Paul Booth, managing director at Credit Suisse, said: “Flexibility and credibility were key considerations for Credit Suisse when selecting our servicing partner. Target Loan Servicing has the specialist skills and expertise needed to manage our investment portfolio. As Credit Suisse Group is an existing client of Target Loan Servicing they were the obvious choice for our business.””