Winterthur Life UK has announced the completion of the sale of its UK pensions administration subsidiary following FSA regulatory approval.
Personal Pensions Management Limited (PPML) has been sold off to Capita Group Plc.
The move comes as Winterthur Life UK appointed the firm as strategic partner to provide third party SIPPs plans administration services.
Winterthur has been in the news earlier this week with results published by parent Credit Suisse suggesting the Swiss financial services giant is continuing to search out a sales opportunity for its protection business.IFAonline
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