Schroders, a global asset management company, has renewed its existing information technology (IT)outsourcing contract with CSC for an additional seven years and 10 months.
The renewal is valued at approximately $235 million.
The new agreement supersedes a previous seven-year IT outsourcing contract
awarded to CSC in June 2001, under which the software development company provided various
infrastructure and applications services.
Under the terms of the new contract, CSC will provide Schroders with
infrastructure services for midrange, desktops and networks, and support for
key applications.
"The partnership between Schroders and CSC is an integral part of the
provision of IT services within Schroders," said Matthew Oakeley, head of
Group IT at Schroders. "This agreement provides an excellent platform for
increasing leverage of CSC's core skills and enhancing the IT support model
for Schroders' business." "The signing of this renewal represents an important milestone in the evolution of our relationship with Schroders," said Guy Hains, president of CSC's European Group. "It demonstrates CSC's ability to meet client needs and adapt to changing IT and business requirements. Our five years of experience
working with Schroders positions us well to continue delivering operational
results that directly support Schroders' business goals."
About Schroders
Schroders is a global asset management company with 122.5 pounds sterling
($211.0 / 178.2 euros) billion under management as at 31 December 2005. Its
clients are major financial institutions including banks and insurance
companies, local and public authorities, charities, pension funds, high net
worth individuals and retail investors.
Schroders' aim is to apply its specialist asset management skills in
serving the needs of its clients worldwide and in delivering value to its
shareholders. With one of the largest networks of offices of any dedicated
asset management company and over 250 portfolio managers and analysts covering
the world's investment markets, Schroders offers its clients a comprehensive
range of products and services.
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