Styles & Wood secures five-year £100m contract with bank

Styles & Wood has been appointed as one of four strategic partners by “one of the world’s largest” banking and financial services organisations for the delivery of its UK Capital Plan over the next five years.

The integrated property services and project delivery specialist said the appointment to the associated framework is expected to deliver revenues in excess of £100m evenly spread over the term of the contract.

Styles & Wood said the client has consolidated its real estate work streams including data centres, critical facilities, office and retail interests. It expects to play an active role in delivering projects and programmes across the client’s property portfolio.

Chief executive officer Tony Lenehan said: “We are delighted to have been selected as a delivery partner on this five-year framework, which provides further evidence of the strength of our business model, broadening customer base and diversification strategy.

“As new technologies and practices continue to drive fundamental changes within the banking and finance sector, our unique skill set, experience and technical capabilities leave us well positioned to provide the specialist services required by major financial institutions."

At 1135 BST, shares were up 16.4% to 397p.