Oakwood win Irish standby contract
The deal sees Oakwood standing behind an incumbent Irish third party administrator on a book with an outstanding balance of around €50m.
The client cannot be named for confidentiality reasons but Oakwood said it is a recognised international investment bank.
Laurence Morey, partner at Oakwood, said: “Once again we are seeing satisfying results from our growing reputation in the Eurozone.
“We are rapidly becoming known in new territories across Europe for our expertise at handling different service options and asset classes.
“Having already proved our proprietary systems to be effective in the UK we are certain that our reach will continue to expand across Europe as more such deals are successfully delivered.”
This is the second Irish deal awarded to Oakwood in 2013.
The outsourcer had previously announced a master servicing contract on around €400m of Irish consumer finance loans earlier this month.