BusinessBusiness RecoveryPwC administrators appointed to Keydata Investment Services

PwC administrators appointed to Keydata Investment Services

KIS enters administration

Administrators from PricewaterhouseCoopers have been appointed to investment
firm Keydata Investment Services.

PwC’s Dan Schwarzmann and Mark Batten were appointed as joint administrators
to the structured product provider, which reportedly holds £3bn in funds for
8,500 savers.

The FSA applied to the courts for the administration order.

‘Our focus is the consumers,’ said Schwarzmann. ‘This is a complex situation
and we know many investors will have serious concerns. We will do all we can to
get a clear understanding of the position as soon as possible.’

A number of Keydata’s venture capital trusts are separate legal entities and
are not in administration.

The firm operates from London, Glasgow and Reading.

Administrators have set up a website:
http://www.pwc.co.uk/KIS and a
helpline: 020 7804 4424.

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