Vertex Secures £45m Contract with Deutsche Bank for Mortgage Services

Vertex, a subsidiary of United Utilities, has secured a significant contract worth at least £45m with Deutsche Bank to provide mortgage services to the bank's customers. The five-year deal will see Vertex set up a new base at Chester Business Park, creating up to 120 new jobs, in addition to the 160 staff already relocated to Prescot. This contract marks a major milestone for Vertex, solidifying its position as a leading financial services outsourcing provider in the UK market.

Key Takeaways:

• Vertex has secured a £45m contract with Deutsche Bank to provide mortgage services, marking its largest mortgage outsourcing deal to date.
• The five-year deal will see Vertex create up to 120 new jobs at its new Chester base, in addition to the 160 staff already relocated to Prescot.
• Vertex will deliver a full end-to-end outsourcing service, including application processing and mortgage servicing, under the contract.
• The firm now employs around 10,000 people worldwide, with over 2,000 people at five locations across Merseyside and Cheshire.
• Vertex's headquarters will be relocated to Prescot, with a workforce of over 400 people, including 70 new jobs created as part of the move.
• The decision to move into Prescot was influenced by meetings with Knowsley Council, who are keen to attract more jobs to the area.

Statistics:

• £45m: Minimum value of the contract secured by Vertex with Deutsche Bank.
• 120: Maximum number of new jobs to be created at Vertex's new Chester base.
• 160: Number of staff already relocated to Prescot as part of the headquarters move.
• 10,000: Total number of people employed by Vertex worldwide.
• 2,000: Number of people employed by Vertex at five locations across Merseyside and Cheshire.
• 430: Total workforce at the Prescot site, including 70 new jobs created as part of the move.

Sources:

• "Vertex in £45m mortgage deal" by Tony McDonough, Deputy Business Editor, Daily Post, no publication date available.