Sale of Derry-based HML completed

The sale of a firm which employs hundreds of people in Derry has been completed.

The Financial Conduct Authority (FCA) has approved the purchase of HML by global financial services company Computershare and the acquisition has just been given the green light.

HML, the UK and Ireland’s leading third-party mortgage administration company, has offices at the Ulster Science and Technology Park in Springtown and has operated in the city since 2004.

HML (Homeloan Management Ltd) has been off-loaded by Skipton Building Society in a £47.5 million deal.

HML has been purchased by Computershare “in order to extend its mortgage servicing business into the UK.” Computershare says it plans to invest in the mortgage servicer, grow it and provide the scale and capital to allow it to take advantage of developing opportunities.

Andrew Jones, chief executive officer of HML, said: “Computershare becoming our parent company is excellent news for the business and those who work at HML, as well as our clients and their customers.

“Computershare is committed to investing in and growing HML, allowing us to continue to be the leading third-party mortgage administration company in the UK and Ireland. With the desire to grow the business and develop the specialist expertise that HML has, it’s clear to me that culturally we are much aligned with Computershare.

“HML has had 25 years of successfully delivering value to clients, customers and our people and this deal will secure the future of the company for many more years to come.”

Computershare provides financial and governance services across 22 countries on five continents and employs more than 15,000 people worldwide, with an annual global turnover of approximately US$2 billion (£1.2 billion).

In the UK, Computershare is based in Edinburgh, Bristol, Halifax, London and Jersey; and will retain HML’s office locations.

In Ireland, Computershare has a base at Heron House on the Sandyford Industrial Estate in Dublin and in the M:Tek Building, Monaghan.

Naz Sarkar, regional chief executive officer of Computershare, said: “We’re pleased to welcome HML to the Computershare group and I’m delighted that Andrew and his senior team will be remaining with the business. Several experienced Computershare staff will be relocating to Skipton [in England] to supplement the HML team and assist with the transition to Computershare. Together, we’re excited at the opportunities that lie ahead.”