Pepper European Servicing (PES) plans to grow its Spanish business fivefold in the next three years after completing significant investment in enhancing its presence and service capabilities in Spain.
The London-headquartered has launched a new full-service loan servicing platform, which will accelerate the firm’s growth plans in Spain and Europe.
The proprietary Atlas platform enables PES to provide end-to-end loan servicing and asset management solutions for regulated residential and commercial loans, as well as unsecured assets, in the Spanish market, where it already has in excess of €1 billion of assets under management (AUM).
The platform, which was developed in collaboration with leading financial solutions company Relational, will support PES’s plans to grow AUM of its Spanish business, which trades under the name Pepper Spanish Servicing (PSS) by a multiple of five in the next three years to approximately €5 billion.
Fraser Gemmell, CEO of PES, believes a key driver of growth will be the growing demand from Banks, hedge funds, private equity and institutional investors for specialist firms such as PSS with an ability to manage non-performing and performing loans, across a broad range of asset classes including residential mortgages, buy-to-let, commercial real estate backed assets as well consumer loans.
He said: “Spain has a strong macro-economic outlook for PSS and the launch of the Atlas platform will position PSS as a leading loan servicer in Spain, which is a strategically critical jurisdiction for our European growth.
“It allows us to significantly enhance the services we provide to investors and financial institutions in this market and effectively creates our third European centre of excellence in Europe for Pepper, to rival our Irish and UK operations, which will allow us to capitalise on the many opportunities emerging for us in Spain and puts huge momentum behind our growth ambitions.”