Financial services unaffected by Vertex’s private sector sale

Vertex has confirmed that its financial services sector will be unaffected by a sell-off of its private sector business to Capita Group.

Capita has bought Vertex’s private sector division for £40.5m, which includes areas such as utilities and telecommunications, encompassing clients such as Marks & Spencer and Scottish Power.

But a spokesman for Vertex has confirmed that financial services does not fall within its classification of private sector and that financial and public sector clients will remain unaffected.

He says: “We are looking to focus more on our financial services and public sector divisions, with a view to growing these areas, so mortgage clients will not be affected by the sale.”

The sale will see some 1,400 employees in the UK and 200 support staff in India from Vertex’s private sector business transfer to Capita.

Paul Sweeny, chief executive officer of Vertex, says: “Our clearly differentiated private sector business brings real value to Capita in a highly competitive market. 

“As a result of today’s transaction we will continue to focus on and grow in the areas where we are acknowledged as leaders – helping clients unlock citizen and customer value in the public sector and financial services markets in the UK.”