NETHERLANDS – Dutch pension firms Mn Services and Cordares are cooperating on an IT centre – which could lead to closer cooperation between the two.
“With this solution, both partners will be able to support the continuity of their organisational management in case of crisis, such as fires, and the latter will additionally support or give an additional support to their operational excellence,” the two outfits stated.
The new ‘shared services centre’ is a “first step towards a larger and more functional cooperation between the two parties in future”. And the IT infrastructure could possibly become available to third parties as well.
Financial terms were not disclosed. Mn Services’ chairman Ruud Hagendijk told IPE recently in an interview that it was looking at partnerships like this.
Mn and Cordares have a combined €45bn under management.
“Within the new shared services centre, the IT services of both companies, including the twin accounting centre, will be combined,” a release stated.
“With this solution, not only the continuity but also the economy of scale and security of the company management will be secured at a high level by optimal cost efficiency.”
The solution involves setting up a high-capacity wide-area network connection. Both companies’ data will be synchronised over a total distance of 80 kilometres to the locations of the respective companies.
The uniqueness of the chosen solution is largely the fact that by realising the data twin-location, in support of the computer and data-base systems, at each location a total back-up of all vital data is available.
Mn has €27.5bn under management while Cordares has €17.5bn.