Misys is planning to redirect some of its operations to a call centre in India and may have to make ...
Misys is planning to redirect some of its operations to a call centre in India and may have to make some staff redundant, as part of a wider review of the IFA division and could see the networks rebranded.
Around 30 posts are being axed at DBS in Huddersfield and other posts near Manchester when a new "quality assurance centre" is set up near New Delhi next year.
IFAs' calls will be redirected to New Delhi to handle support and research services, in order "increase its monitoring and compliance checking capabilities" said Misys in an official statement.
This is at a time when research is also being conducted on members to determine whether they would be happy to have an alternative name defining the Misys networks.
Officials say networks could eventually be individually rebranded if the parent group decides to realign businesses and match proposals for the new (depolarized) distribution regime, but any decision to restructure networks may not be taken until much later in 2003.
Documents obtained by IFAonline suggest the final decision of whether to rebrand at least the umbrella IFA division is unlikely to be announced until March 2003, because the Misys Life and Pensions executive - which oversees the networks - would like to do more research among its members.
Research conducted among Misys members at recent roadshows suggests the majority of network members would prefer one name for all networks"IF it enhanced value and reputation for all".
Around 3,300 delegates were asked to vote, during Misys roadshows, whether they would agree to one network name if it improved the overall brand perception in the eyes of advisers, providers, trade press and consumers.
At least 54% of the vote said "yes", while 14% said "no, "another 26% said they "don't care" and 6% said "don't know".
Patrick Gale, ceo of the Misys Life and Pensions, also told delegates at the Misys Convention last Friday a new name has yet to be selected but further details would be revealed next year.
"….to build value we need to create a world-class trade brand. We thank you for your recent feedback showing support for a single entity. We have not as yet selected the new name, as we want to get you the members involved. I would anticipate being able to give you a more specific update in March 2003," said Gale.
Andrew Bedford, director of marketing at Misys IFA, says it would make sense for the executive to look at the possibilities of rebranding now rather than later, as the IFA division is being merged into a single entity for FSA regulatory purposes and Misys has already announced its intention to float the IFA division in two years.
Bedford points out this does not signify the merger of all five networks at this stage, and firms are still allowed to use their network name if they wish to.
But there are some members who would not be averse to ditching the DBS name, says Bedford.
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