Findings highlight stark inadequacies in the provision of wealth management propositions

Aldershot, 30 April 2008, Computer Sciences Corporation (NYSE: CSC) announced today that its newly established consulting practice dedicated to serving the UK wealth management market has released findings from its recent industry study.

As the market sits on the verge of a six-fold increase in growth over the next two years, according to analysis provider Datamonitor, CSC’s study of banks, insurers and advisory firms found a significant shortfall in many organisations’ ability to manage the emerging demand for bundled propositions, tailored to specific customer segments. According to the study, 60 percent of those surveyed admitted their organisation structure is a hindrance.

“Many organisations providing wealth management products and services today are woefully lacking when it comes to responding to the future needs of customers,” said Joanna Hall, leader of the new practice and consulting partner for CSC’s Financial Services Sector in Europe, the Middle East and Africa. “To best serve customers, organisations will need to incorporate many more partner and affiliate arrangements into their overall wealth management offerings, and ensure their organisational structures, both culturally and technologically, are fit for purpose.”

The aim of the study was to establish how organisations felt they measured up to serve the requirement for a wider range of products and services, and provide a more holistic approach for customers seeking to manage their financial investments. According to those surveyed, the findings revealed a lack of integration between the systems and processes needed to provide such services, with less than 10 percent of those surveyed believing their current technology performance will suffice.

“This is of particular concern since the study also predicts a significant rise in the role of the Internet as both a distribution channel and guidance or advisory component within the wealth management sector,” added Hall. “Wealth providers need to review their business growth strategies, carefully identify their client targets and tailor propositions. The strategy then needs to be translated into a robust and cost-effective technology environment.”

About CSC in Financial Services

CSC distinguishes itself through its time-tested ability to plan, build and operate reliable, efficient and secure business and information technology (IT) solutions for leading financial services firms around the world. To complement its capabilities in consulting, systems integration and outsourcing, CSC brings financial services industry knowledge and experience, a comprehensive portfolio of financial services application software and an extensive network of industry and technology partners. CSC’s financial clients include more than 1,200 major banks, insurers and investment management and securities firms.

About CSC

Computer Sciences Corporation is a leading global information technology (IT) services company. CSC’s mission is to be a global leader in providing technology-enabled business solutions and services.

With approximately 91,000 employees, CSC provides innovative solutions for customers around the world by applying leading technologies and CSC’s own advanced capabilities. These include systems design and integration; IT and business process outsourcing; applications software development; Web and application hosting; and management consulting. CSC reported revenue of $16.1 billion for the 12 months ended Dec. 28, 2007. For more information, visit the company’s Web site at www.csc.com.