Outsourcing

Outsourcing offers numerous benefits to businesses not least in cost base reduction and operational efficiency. We have considerable experience in the field of outsourcing across a variety of sectors, and particularly in the financial services sector where we act for a broad range of financial institutions.

We differentiate ourselves in that our outsourcing practice combines both commercial and financial services expertise. This means we bring with us our knowledge of both the commercial issues raised by the decision to outsource, as well as the impact of regulation on the structure and terms of an outsourcing arrangement.

This experience is particularly pertinent as regulators are increasingly focused on firms’ outsourcing arrangements and the oversight and control that firms have over their outsourced service providers, in particular with respect to:

  • additional requirements for critical or important outsourcings;
  • operational resilience for banks, insurers, payment institutions and enhanced SMCR firms;
  • outsourcings to the cloud, particularly by insurers and banks;
  • consolidation of outsourcing providers into a single provider model;
  • substitutability and transition arrangements; and
  • fund structures, including ACD delegation arrangements.

In advising our clients, we also draw on input from our data privacy, intellectual property, employment, investment management and tax specialists.