UK Platform Transformation Programme
£m
Optimisation focussed on addressable cost base
1.
2.
2018
Total costs
Addressable costs
Contribution to
optimisation
Optimisation: A phased, multi-year approach
555
18
105
120
~300
312
Front office
IT &
& operations
Development
Phase:
1. Operational efficiencies
Targeting -15%
reduction of
addressable cost base
Programme
of activity:
c.35%
Impact/
outcome:
c.50%
•
•
•
Efficiency initiatives to deliver
improvements in operational
performance
Support services focussed
Targeting c.2 percentage point
improvement in operating
margin by 2020 and a further
2 percentage points by 20211
c.£75m² one-off costs to deliver
c.15%
Timeline:
Support services
Other
2019-2021
The Group noted in its 1Q 20 Trading Statement, published 21 April 2020, that it no longer expects to meet its targeted 27% operating margin for 2020 due to lower market levels leading to lower
AUMA and hence revenues. It should equally be noted 2021's operating margin target will be subject to market performance.
Includes £7m incurred in 2018.
Quilter
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