EDS/MCI, IBM Cazenove In Outsourcing Deal


IBM announced a major strategic outsourcing agreement on October 14 with Cazenove, one of the leading international securities houses. It is the largest IT agreement of its kind undertaken in the City of London. A spokesperson for each company denied that it was the precursor to a merger. About 10 percent of Cazenove's workforce of some 1000 employees would be transferred to IBM. Nancy Kaplan, an IBM spokesperson, said that the two companies "had been in discussions for about a year."


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