Intrum - comment

Intrum are executing their strategic repositioning faster than anticipated. This morning the company announced the acquisition of CapQuest and Mars - further servicing capacity in the UK (with half of the £400m UK consumer ERC attached), the win (back) of CaixaBank’s Spanish Real Estate Servicing business, which previously constituted €2.8bn AUM as counted by its pending acquisition target Haya. The return of CaixaBank to the Haya platform under its new leadership makes sense and opens up the prospect of even re-gaining some business from SAREB.