Most Read
- Merrill Lynch Speeds Up Application Development
- Buy Side Seeks Independent Valuation Providers for OTC Derivatives After Credit Crisis
- Getting That Single Version of the Truth on Wall Street
- SR Labs Unveils Low Latency OMS with Market Data
- Is Wall Street Ready for the iPhone?
- The OMS Dilemma: Speed vs. Intelligence
- REG NMS Cheat Sheet
- How the NYSE Achieves Low Latency
Lloyds TSB to Outsource Back Office to Wachovia
Last week Wachovia and Lloyds TSB Bank announced that Wachovia's Hong Kong operation will take over trade back office processing from the UK bank. Details of the agreement were not released, but Wachovia did reveal that by early next year, it will fully take over trade processing.
"Our customers will be the ultimate beneficiaries of this agreement," said Paul Baker, Lloyds TSB Bank PLC, managing director, Group Operations in a release. "This agreement with Wachovia will enable us to provide a stronger, more comprehensive customer proposition, while increasing flexibility and reducing costs."
"We look forward to developing our strategic trade partnership with Lloyds TSB, leveraging our strong focus on customer service, innovative trade platform and ability to customize our services for their specific requirements," said Michael Heavener, head of Wachovia's Global Financial Institutions and Trade division in the release.
Lloyds TSB already has significant outsourcing agreements, as a result of a 2005 push during which it signed up with Fujitsu, Xansa and IBM. Earlier this year, the bank outsourced over 100 positions to a triumvirate of Indian consultancies.
Posted by Cory Levine at 08:14 PM
This is a public forum. CMP Media and its affiliates are not responsible for and do not control what is posted herein. CMP Media makes no warranties or guarantees concerning any advice dispensed by its staff members or readers.
Community standards in this comment area do not permit hate language, excessive profanity, or other patently offensive language. Please be aware that all information posted to this comment area becomes the property of CMP Media LLC and may be edited and republished in print or electronic format as outlined in CMP Media's Terms of Service.
Important Note: This comment area is NOT intended for commercial messages or solicitations of business.
Greg MacSweeny Columns
Greg MacSweeneyOverbearing Market Reform Will Only Slow Market Innovation
As investors call for extensive regulatory oversight of certain derivatives, regulators mu...
What You Don’t Know Will Hurt You
Larry Tabb Columns
Larry TabbOpportunities Beckon Amid Economic Turmoil
A shaky economy and the defibrillation of many fixed-income products provide fertile groun...
NYSE TransactTools May Be NYSE Euronext’s Most Important Asset
CHECK THIS OUTNovell Real Time Linux Webcast SeriesIn order to succeed, companies must be able to respond quickly, deliver superior value and quality of service, and carefully manage their costs. In this series of brief webcasts, you will learn how SUSE Linux Enterprise Real Time from Novell enables organizations to respond quicker by delivering low latencies, deliver increased value with fast response times, and better manage costs. |
EventsLive Events:Buy-Side Trading Xchange June 04, 2008 Buy-Side Trading Summit 2008 November 16-18, 2008 Web Events: 2008 Market Mandates and Rich Internet Application Trending for Online Business Banking Channels 2008 May 20, 2008 How Can Financial Firms Build a Better Data Center? May 29, 2008 Market Trends 2008 and Rich Internet Applications: Online Channels Retirement and Benefits Service Portals June 03, 2008 Market Trends 2008 - Rich Internet Applications: Next Generation Online Financial Portals in Financial Services June 04, 2008 Straight Talk About Low-Latency: The Value of a Millisecond June 19, 2008 |
White PapersLevel 3 Connectivity KitStay ahead of the bandwidth curve. The Level 3 Connectivity Kit provides full resources to help you make informed decisions regarding your network infrastructure. Download the Data Center Networking Strategies for Financial Services Firms White Paper; Business Class Ethernet: Trends in Perspective eBook and BC/DR Best Practices for the Data-Intensive Enterprise Gartner Webcast Surviving and Thriving in a Challenging Market Learn how financial services firms can use customer-centric strategies and tools to maximize client value and loyalty, gain insight into new opportunities, and do more with less, counteracting market volatility. |
Marketplace |
Career CenterReady to take that job and shove it?
|
Most Recent Job Posts:
* Tower Hill insurance Group, Inc. seeking Programmer in Gainesville, FL
* CAST Software, Inc. seeking Senior Pre-Sales Engineer in Chicago, IL * Broadcom seeking Principal Software Engineer in Irvine, CA * ITT Corporation seeking Senior Program Manager in Fort Wayne, IN * Tower Hill insurance Group seeking Help Desk Director/AVP in Gainesville, FL For more tech jobs in the industry, visit Wall Street & Technology's Career Portal. |


