Capita Hartshead today announces the acquisition of Gissings Consultancy Services Ltd (Gissings) for an undisclosed sum. This will add further capacity and expertise to Capita Hartshead’s actuarial and pensions consultancy business, especially in London and the south-east.
Mike Addenbrooke, managing director at Capita Hartshead said: “We are delighted to welcome Gissings to Capita Hartshead. Gissings has an excellent track record of providing innovative, cost effective advisory solutions to its clients and there is obviously a great synergy in our styles of working. This acquisition will complement our existing services and enhance our market standing.”
He continued: “Despite the current tough business environment, demand for our administration and consultancy services is increasing. By bringing an established, well-respected business into the Capita Hartshead fold, we are positioning ourselves for continued future growth in line with our business strategy.”
Gissings, which was established in 1970, employs around 50 staff and currently has offices in London. Gissings’s administration clients, currently administered under an outsourcing arrangement with HCL, will transfer to Capita Hartshead’s administration team.
For further information:
Media and analyst enquiries only:
Capita press office
Caroline Mooney
Tel: 0207 654 2152 or 0207 654 2399 (out of hours)
Notes to editors:
The Capita Group Plc is the UK’s leading provider of BPO and integrated professional support service solutions. With 36,000 people at more than 300 sites, including 62 business centres across the UK, Ireland, the Channel Islands and India, the Group uses its expertise, infrastructure and scale benefits to transform its client’s services, driving down costs and adding value. Capita is quoted on the London Stock Exchange (CPI.L), and is a constituent of the FTSE100 with revenues for 2008 of £2,441 million.
Further information on The Capita Group Plc can be found at: http://www.capita.co.uk
Capita Hartshead is a leading provider of consultancy, administration and specialist delivery solutions to the life and pensions industry. Our core services are pensions administration and consulting, both actuarial and investment. In addition, we offer our clients access to expertise across a wide range of specialisations including transition management, member communications, compliance consulting, complaint management and independent trustee reviews. Our workforce comprises over 1,450 employees operating from 14 sites across the UK and Ireland. The pensions administration team alone looks after over 550 clients with more than 3.4 million members. In total, our clients have pension scheme assets of over £48bn. We place great importance on building relationships and this has helped us achieve a 98% client retention rate. Capita Hartshead initially evolved from a team set up in 1974 to administer the Local Government Pension Scheme on behalf of the water authorities. In 1997, we became part of The Capita Group Plc, a FTSE 100 company and one of the UK's most experienced professional support service businesses. More recently we have expanded our core service offering via a number of strategic acquisitions including boutique consultancy firms Higham Dunnett Shaw and Aspen (Actuaries and Pension Consultants) plc.
Further information on Capita Hartshead and client testimonials can be found at: http://www.capitahartshead.co.uk
About Gissings
Gissings is a leading firm of pension consultants, providing actuarial, advisory, investment and administration services for UK pension plans. Established in 1970 and independently owned, Gissings advises on all types of occupational and contract based pension plans, plus pension plan design, pension aspects of mergers and acquisitions and pension plan restructuring. Gissings is also a leading player in the advisory market for the buyout of pension liabilities. Gissings Advisory Services Limited is a separately owned and regulated business with which Gissings has a cooperation agreement for the benefit of our mutual clients.