National Bank and IBM Sign $450M IT Infrastructure Services Agreement

On March 31, 2009, National Bank of Canada and IBM Canada Limited signed a seven-year agreement under which IBM will manage National Bank's information technology infrastructure, including mainframe, server management and end-user services. Supporting National Bank Financial Group's “one client, one bank” strategy, IBM will oversee a major transformation initiative to implement new server technologies, standardized processes and an integrated set of enterprise tools.

This new agreement is valued at $450 million and is an early renewal of a contract that was signed in 2001.

National Bank's in-house counsel Nadia Jubinville was assisted by a legal team from McCarthy Tétrault LLP led by George Takach and Charles Morgan, who were assisted by Alexandre Kibale, Laurent Gauthier and Delia Cristea. Jacques Rousse and Rachel Ravary of McCarthy Tétrault provided employment law advice in relation to transferred employees.

IBM was represented by in-house counsel Leslie Gergely and Kenneth Silverman, along with Denis Brind'Amour, Lyne Gagnon, Cheslava Kark and Barry McKillop from IBM's law department.