Credit Agricole CIB outsources US IT in multimillion deal
Credit Agricole CIB has signed an outsourcing deal with Genpact, under which the technology firm will help the bank by providing its IT development and maintenance, production support, infrastructure management and user support in the US.
Genpact will provide the services from New York. The majority of the current IT staff of CA CIB will become employees of Genpact and will continue to be based in New York, and a number of them will be assigned to this project.
The deal is an extension to an existing contract with CA-SIB in its home country, France.
“With an existing strong relationship with Genpact and our CA-CIB operations in Paris, we knew that Genpact was the right partner for this initiative because of the company’s deep capital markets domain expertise, onshore and offshore delivery excellence, and the ability to transform, streamline and manage IT operations to be more adaptive and address the continued volatility in the global financial market,” said Jean-Francois Deroche, chief executive of CA CIB Americas. “We are confident that Genpact’s integrated IT services will help us achieve our business objectives, stay competitive, and allow us to run smarter operations.”