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UBS awards outsourcing project to HCL

BBR Staff Writer Published 14 March 2012

Union Bank of Switzerland (UBS) has awarded an estimated $250m-$300m outsourcing contract to HCL Technologies, India’s fourth-largest information technology (IT) services company.

Company sources told Business Standard that HCL will deploy 1,000 professionals to manage the project who will be located across the globe including India.

An offshore delivery centre (ODC) will also be set up by the company in Bangalore, India, for catering efficient services to UBS, which is expected to be operational from 1 April this year.

The European banking firm has already been working with many Indian as well as offshore-centric IT services vendors, including Cognizant, Infosys, TCS and Wipro, as reported by Business Standard.

The Swiss bank had awarded a five-year IT outsourcing contract worth $442m to Cognizant across IT infrastructure, application development and maintenance and BPO, in 2009.