Financial Services Company Signs $290 Million Deal With CSC

AMP Limited, a large international financial services company, has signed a five-year, $290 million information technology outsourcing agreement with large integrator Computer Sciences Corp. (CSC) for AMP's United Kingdom operations.

Under the terms of the agreement, CSC will manage mainframe and midrange services, voice and data networks, service help desks, desktops, servers and high-volume printing for AMP's operations in England.

Approximately 220 AMP employees within the U.K. will transfer to CSC, officials say. CSC has assumed management of AMP's IT operations, effective immediately.

The new agreement builds on CSC's existing relationship with AMP's Australia operations, which began in 1993. CSC's outsourcing contract with the Australian operations of AMP, which was expanded in June 2000, is valued at $314 million over five years, according to officials. The new U.K. contract is separate from the Australian relationship, they add.

"We are pleased by the confidence AMP has placed in CSC on a global basis," said Van Honeycutt, CEO at CSC, in a prepared statement.

According to Warwick Foster, AMP CIO, AMP is actively forging relationships with global solution providers like CSC "to support the increasingly international composition of AMP's operations in our core businesses of wealth creation and protection."

AMP is Australia's leading international financial services business, providing wealth creation and protection products and services to approximately 9 million customers worldwide. Principal activities include retirement savings, funds management, life and general insurance, financial planning and banking services.

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