Credit Suisse chooses Target again to manage fixed term deposit portfolio
Credit Suisse has appointed leading financial outsourcing
provider, Target Loan Servicing, to manage and service its fixed
term deposit portfolio.
Managing this deposit portfolio, from
its Newport office in South Wales, Target took over the account
management of this portfolio within just 8 weeks.
John-Paul Booth, Managing Director, at Credit Suisse
commented:
"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."
Target Loan Servicing specialises 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.
Commenting on this new contract win, James Snow, CEO of Target
Loan Servicing said:
"Target is already very familiar with Credit Suisse's reporting
and compliance requirements. The expertise at our
state-of-the-art customer management centre and high calibre team
of investment and loan servicing specialists will ensure excellent
customer service for Credit Suisse."
Credit Suisse have 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.
Published: 09 March 2010