News: Amicable end to F&C/Mellon's outsourcing deal.

Pensions Week, May, 2007

Byline: CD

F&C Management has terminated its back office outsourcing deal with Mellon Financial Corporation, claiming it needs a consistent approach to investment administration.

The decision, announced jointly between Mellon and F&C, will see admin staff transferred from Mellon's employment back to F&C.

Following F&C's merger with ISIS in 2004, the fund manager had run its back office services both with Mellon and an in-house arrangement with remnants of the ISIS business.

But Luc Leclercq, head of F&C's operations, claimed the business needed a sole provider of back office support.

Leclercq said: "We have determined that our key operations priority is to migrate our investment support functions onto a single solution, so...

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