Nama awards €80m contract to Capita

Nama has awarded Capita Asset Services an €80m contract to service more than €40bn of loans held by the bank.

On top of servicing the loans Capita will also provide special servicing and management of more than 300 debtors under a framework developed by Nama.

Capita announced earlier this year that it would be doubling its workforce, creating 800 jobs over the next three years. The 140 new roles created by the Nama portfolio will be staffed from these new hires.

Capita Asset Services chief executive Robbie Hughes said that Nama was a strategic fit for Capita. “We are pleased to have been appointed to such an important mandate. The contract is an excellent strategic fit for Capita in that it fully complements our existing business in terms of services, clients and professional staff and we are pleased to welcome all new members of staff.”

Capita has been acting as master servicer to Nama since 2010 and it will continue in this role in addition to its new responsibilities. Capita has more than 800 employees in Ireland and, in May 2013, it confirmed its aspiration to double that headcount over the next three years.

Capita Asset Services, which has offices in Britain, Ireland and Germany is Europe’s largest independent third-party commercial mortgage servicer, providing loan administration, facility agent, asset management and special servicing to the banking and securitisation markets.

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