Pepper Asset Servicing (Pepper Ireland) has been appointed by Goldman Sachs to provide servicing on a portion of a €540 million loan book it has acquired from Danske Bank A/S, it was announced today.
Under the terms of the agreement, Goldman Sachs will acquire a €266m portfolio of commercial loans from the overall loan book. Pepper Ireland will handle the day-to-day management of the loans including customer service and specialised case management where required.
Paul Doddrell, Pepper’s CEO in Ireland, said: “Pepper is delighted to secure this new business, which sets us up for what will hopefully be our third consecutive year of strong growth and expansion in 2015. It also provides an opportunity to deepen our existing relationship with Goldman Sachs, who recognise our commitment to providing an excellent service to borrowers and lender, and our willingness to keep investing in the business in order to deliver.”
Pepper Ireland is a leading servicer of third-party loan portfolios, asset management and advisory services spanning a range of asset classes including residential mortgages, commercial mortgages, auto finance, unsecured loans and equipment finance.
The company currently employs approximately 270 people in Shannon and Dublin and has over €12 billion of assets under management. Pepper Ireland is ranked by S&P “ABOVE AVERAGE” for its residential loan servicing and “AVERAGE with positive outlook” for its commercial loan servicing.The company has been named a National Champion for Ireland in The European Business Awards 2014/5.
Pepper in Ireland is part of the Pepper Group, a global financial services business, specialising in Lending, Advisory and Asset Management Services.
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