The group will keep ‘key team members’ on staff to help clients with the transition as its winds down its European operations, but the fate of the majority of UK and European employees is unknown. AlliedPRA's UK offices refused to comment when approached by C&IT.
AlliedPRA’s president of North America, Denise Dornfeld, said: "The scale of business needed to maintain a consolidated DMC in Europe is not achievable in today’s economic climate, and therefore to protect clients and deliver programmes in the fashion they expect and deserve, we are transitioning to a partnership model.
"This will allow us to better compete and serve the best interest of our clients globally. We value our long-standing, respected client partnerships and will ensure we make this transition as smooth as possible and will keep key members of staff on our accounts. As a valued DMC partner, we are honoring every deposit acquired by AlliedPRA."
The company stated that its ‘core strength’ was in North America, and that the new strategy would support the growth of its North American operations, while allowing it to better compete internationally.
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