CSC SIGNS SIX-YEAR CONTRACT EXTENSION WITH CACEIS
News Release -- December 13, 2012
Luxembourg, December 13, 2012 – CSC (NYSE: CSC) today announced that it has signed a six-year extension to its information technology (IT) services contract with CACEIS, a leading global banking group dedicated to asset servicing.
The extension, which was signed during CSC’s fiscal 2013 third quarter extends the original agreement through to December 2018. Financial terms were not disclosed.
Under the terms of the extension, CSC will continue to provide CACEIS’s IT production infrastructure in Europe and provide IT management and support services for all mainframe and midrange operations. With adapted solutions and new on-demand services, CSC will continue also to assist CACEIS to deliver their strategic IT projects successfully.
“Operating in a rapidly evolving regulatory environment, CACEIS needs to be quick to adapt itself to incoming legislation and new business opportunities in order to secure a competitive advantage for itself and its clients. Over the years, CSC has demonstrated that they were able to meet our changing IT and business requirements in a timely and efficient manner,” said Jean-Pierre Michalowski, Deputy CEO of the CACEIS Group, in charge of operations and IT. “Working with CSC has been key to the success of our rapidly growing business, and enabled us to offer an enhanced level of service quality, while significantly reducing our IT costs.”
“We are delighted to continue to help CACEIS transform their IT infrastructure to adapt to changing market needs. Our proven experience in the banking industry has been a key factor in helping CACEIS achieve their operational and financial performance,” said Claude Czechowksi, vice president, general manager and managing director, South and West EMEA, CSC. “We look forward to continue helping CACEIS to achieve their desired business results”
CACEIS is the asset servicing banking group of Crédit Agricole dedicated to institutional and corporate clients. Through offices across Europe, North America and Asia, CACEIS offers a comprehensive range of high quality products and services covering depositary and custodial services, fund administration, middle office services, fund distribution support, capital markets services and issuer services. With assets under custody of €2.3 trillion and assets under administration of €1.1 trillion, CACEIS is one of the world market leaders in asset servicing, and is the largest depositary bank and the premier fund administrator in Europe (figures to 31 December 2011). www.caceis.com
CSC is a global leader in providing technology-enabled business solutions and services. Headquartered in Falls Church, Va., CSC has approximately 95,000 employees and reported revenue of $15.7 billion for the 12 months ended September 28, 2012. For more information, visit the company's website at www.csc.com.