Financial services company Pepper plans to create up to 100 new jobs in Ireland this year as it rebrands and expands into new markets.
epper Advantage, formerly Pepper European Servicing, will integrate the group’s European and Asian businesses and will focus on credit intelligence, including the development of a new cloud-based data and analytics platform.
In Ireland, Pepper is the largest mortgage servicer for banks and financial institutions, providing administration services for over 80,000 loans.
The firm already employs more than 500 people in Shannon and Dublin, and the Irish firm surpassed €20 billion in assets under management for the first time this year as a result of a series of deals.
Pepper won the mandate for PTSB’s €1.4 billion buy-to-let portfolio in Glenbeigh in 2019 and a €1.1 billion loan portfolio sold by KBC to private equity firm CarVal and in boarded this year.
Pepper said in a statement that the Irish business is “an integral part” of its global ambitions and “is home to a wealth of expertise and experience that we will leverage to expand into new markets and services”.
The integrated Pepper Advantage business will have over $55 billion in assets under management and a global workforce of over 1,100 people.
Australian lender Pepper entered the Irish market in 2012 after acquiring GE Capital Woodchester Home Loans.
Fraser Gemmell, CEO of Pepper Advantage, said the company sees two main sources of market growth this year: demand for credit from middle-class consumers in Asia and the need for more market intelligence from non-traditional lenders in Europe.
“In more developed markets, the growth of non-traditional lenders is driving a need for deeper credit insights to support product innovation, customer acquisition strategies and more advanced risk management functions,” he said.
“Our innovative, entrepreneurial and customer-centric culture makes us the ideal global partner.”
Pepper Advantage is part of the Pepper Group, which is 60 percent owned by the American investment firm KKR.
Pepper Group was founded in 2000 as a financial services startup in Australia specializing in mortgage lending and credit servicing.
https://www.independent.ie/business/jobs/financial-services-firm-pepper-to-create-up-to-100-new-jobs-in-ireland-41486081.html The financial services company Pepper wants to create up to 100 new jobs in Ireland