Outsourcing

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Wipro snatches multi-million dollar PSB outsourcing contract from Satyam

/Outsourcing

Wipro snatches multi-million dollar PSB outsourcing contract from Satyam

India's Punjab and Sind Bank (PSB) has handed a $21 million ten-year IT integration project to Wipro after dissolving an earlier contract with Satyam Computer Services.

Deutsche Börse plans lay-offs and outsourcing as income dips

/Outsourcing

Deutsche Börse plans lay-offs and outsourcing as income dips

German exchange operator Deutsche Börse has outlined plans to save EUR50 million through an unspecified number of job cuts and outsourcing initiatives after reporting a EUR33 million net loss for the fourth quarter.

Deutsche Börse mulling staff cuts, outsourcing - Handelsblatt

/Outsourcing

Deutsche Börse mulling staff cuts, outsourcing - Handelsblatt

Deutsche Börse is to cut up to 10% of its 3,300-strong workforce as it bids to lower costs in the face of strong competition, according to a report in German business daily Handelsblatt.

Nyse signs Citi as first client for global market data admin service

/Outsourcing

Nyse signs Citi as first client for global market data admin service

Citi is to be the first customer for Nyse Technologies' new market data administration service, developed in collaboration with consultancy Jordan & Jordan.

Barclays to bring IT back inhouse as Accenture outsourcing deal expires

/Outsourcing

Barclays to bring IT back inhouse as Accenture outsourcing deal expires

Barclays has decided not to renew a six-year, £400 million IT outsourcing contract with Accenture when it expires in June, taking the work back in-house.

BNY Mellon Asset Servicing establishes outsourcing group

/Outsourcing

BNY Mellon Asset Servicing establishes outsourcing group

The Bank of New York Mellon's asset servicing division has set up a dedicated global outsourcing group led by Lou Maiuri, CEO and chairman of Eagle Investment Systems.

State Street to acquire Mourant fund admin business

/Outsourcing

State Street to acquire Mourant fund admin business

State Street is expanding its global fund administration and alternative servicing capabilities with an agreement to acquire Jersey-based Mourant International Finance Administration (MIFA) in a cash transaction. Terms of the deal, which is expected to close in Q1 2010, were not disclosed.

Credit Agricole and Equens in payment processing 'merger' talks

/Outsourcing

Credit Agricole and Equens in payment processing 'merger' talks

France's Credit Agricole has signed an agreement to "explore the possibility" of merging its card and payment processing operations with Equens.

More jobs to go at Lloyds as Equitable Life shifts business to HCL

/Outsourcing

More jobs to go at Lloyds as Equitable Life shifts business to HCL

More jobs are set to go at Lloyds as UK insurance house Equitable Life announces plans to transfer its outsourced policy administration business from the UK banking group to Indian IT firm HCL.

Samlink signs EUR55 million IT services deal with IBM

/Outsourcing

Samlink signs EUR55 million IT services deal with IBM

IBM has signed a seven-year, EUR55 million strategic outsourcing agreement with Finnish IT banking service provider Samlink.

Union calls on UK Border Agency to investigate Lloyds' use of Indian IT contractors

/Outsourcing

Union calls on UK Border Agency to investigate Lloyds' use of Indian IT contractors

Lloyds Banking Group Union (LTU) is calling on the UK's Border Authorities to investigate the bank's use of Indian IT contractors on homegrown projects.

Firstsource stakeholders look to sell up - Reuters

/Outsourcing

Firstsource stakeholders look to sell up - Reuters

ICICI Bank, US technology group Metavante and Singapore state investor Temasek have revived plans to sell their stakes in Indian BPO venture Firstsource, according to Reuters.

IBM looks on as Westpac's Kelly says mega outsourcing trend is shifting

/Outsourcing

IBM looks on as Westpac's Kelly says mega outsourcing trend is shifting

Westpac CEO Gail Kelly has broadly hinted that the bank is unlikely to renew its decade-long IT outsourcing deal with IBM, as banks move away from all-in-one mega deals to more tactical best-of-breed outsourcing arrangements.

Penson buys Broadridge clearing contracts; outsources tech services

/Outsourcing

Penson buys Broadridge clearing contracts; outsources tech services

Penson Worldwide has entered into a deal to buy the clearing contracts of Broadridge Financial Solutions' Ridge business for up to $70 million and then outsource some technology and processing services to the seller.

Saxo Bank acquires stake in offshore IT house Initto

/Outsourcing

Saxo Bank acquires stake in offshore IT house Initto

Online financial services firm Saxo Bank has acquired a 40% stake in Danish offshore software and IT service provider Initto.

Lloyds TSB, Barclays and HSBC extend UK cheque processing outsourcing deals

/Outsourcing

Lloyds TSB, Barclays and HSBC extend UK cheque processing outsourcing deals

Lloyds TSB, Barclays and HSBC have signed five year outsourcing contract extensions worth a total of £315 million with the UK cheque and payments processing joint venture they jointly own with IT firm Unisys.

Bank of Tokyo-Mitsubishi UFJ adopts IBM desktop cloud service

/Outsourcing

Bank of Tokyo-Mitsubishi UFJ adopts IBM desktop cloud service

Japan's Bank of Tokyo-Mitsubishi UFJ has signed for IBM's smart business desktop cloud service.

UBS agrees sale of Indian BPO unit to Cognizant

/Outsourcing

UBS agrees sale of Indian BPO unit to Cognizant

UBS has agreed to sell its Indian business processing outsourcing unit to Cognizant in a deal that also sees the Swiss bank and vendor sign a multi-year services contract. Financial terms were not disclosed.

IBM wins $157m Korea Investment & Securities outsourcing deal

/Outsourcing

IBM wins $157m Korea Investment & Securities outsourcing deal

Korea Investment & Securities (KIS) has inked a 10 year, $157 million, information technology outsourcing agreement with IBM.

IBM to buy Bank of America mortgage servicing unit

/Outsourcing

IBM to buy Bank of America mortgage servicing unit

IBM has signed a deal to buy the core operating assets of Bank of America's mortgage servicing unit Wilshire Credit Corporation. Financial terms of the deal were not disclosed.

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