Financial Services & Insurance
The attorneys of Alston & Bird’s Global Sourcing Group have substantial experience representing companies in the financial services and insurance industries. Our recent experience includes representations of many top-tier banks, private equity firms, payment processors, money managers and insurance companies of all types in the United States and around the world. The engagements we have been entrusted with include everything from ITO, HRO, F&A, and ADM matters, to more complicated first-of-their-kind business process outsourcings.
The benefit of our focused experience is a greater understanding and appreciation for the complicated regulatory regimes companies in these industries must maneuver. Many times, these engagements are affected by legal regimes in jurisdictions around the world, many of which are often conflicting. We often call on lawyers in our firm with extensive insurance regulatory and corporate experience for assistance in structuring and executing these transactions. Because of this focus, we bring to our clients an integrated, thoughtful approach, which leads to a better client result.
Recent representative engagements:
- Multiple first generation and second generation representations of financial services companies and insurance companies in the outsourcing and transformation of IT, HR, F&A, ADM and other business processes.
- Advising a leading global payments processor in a first generation outsourcing of its IT infrastructure.
- Counsel to Fortune 20 health care services and insurance company in an applications development and maintenance outsourcing transaction in India.
- Unique BPO transaction on behalf of one of the world's largest insurers, sourcing novel and core aspects of regulated activities to an Indian service provider.
- Representation of a global insurance company in the outsourcing of back-office operations for new insurance products and the development of a platform for additional insurance products, including policy services, claims, documentation and call center operations.
- Representation of a UK private equity investment group in the acquisition of a U.S.-based outsourcing provider in the health care space and the subsequent move of substantially the entire service delivery infrastructure offshore.
- Representation of one of the world's largest money managers in the "transfer" portion of a build/operate/transfer transaction, addressing tax, benefits, intellectual property and other issues arising in moving approximately 500 FTEs from a niche provider's facilities in a software technology park in India to a newly created special economic zone.
- Representation of a state agency in its acquisition of development and fiscal agent services in a Medicare/Medicaid implementation, processing approximately $12 billion per year in health care related payments.
- Representation of one of the world's largest hybrid public private banking concerns in the integration and license of a comprehensive enterprise resource planning system involving operations in at least 23 countries.