BT will work with Swisscom Solutions, the IT and network services division of the Swiss national telecoms operator, to manage the network infrastructure supporting Credit Suisse’s 45,000 employees worldwide.
Some 231 employees working in Credit Suisse’s internal IT department, as well as 50 contractors, will transfer to BT and Swisscom as part of the deal, which has a minimum five-year term, with the option of extending it for a further two years.
Credit Suisse said that it hoped to get improved access to mobile, Internet and advanced exchange connectivity technology at a lower cost and with less capital investment. One interesting feature of the deal is that BT, Swisscom and Credit Suisse will all contribute to a multimillion pound innovation fund, which will finance the development of new technology to improve Credit Suisse’s infrastructure.
The bank said that it selected BT due to its experience in the financial services sector the company has major contracts with Barclays, Visa Europe and the Bank of Ireland, and that it brought Swisscom in on the deal due to its understanding of Swiss banking regulations.
The contract represents the second multi-hundred-million dollar contract that BT GS has won this year, after securing a 325m-pound ($637m) contract extension with Liverpool City Council last month.
