National Bank and IBM Execute New $1.1B Outsourcing Contract

National Bank of Canada and IBM Canada Ltd. executed on July 18, 2002 a 10-year, $1.1 billion IT outsourcing contract. The execution of the contract follows the announcement of an agreement to that effect between the two parties on December 12, 2001.

IBM has been providing outsourced IT services to National Bank of Canada since 1994. The new contract extends the relationship through 2011. Under the agreement, IBM Global Services will continue to manage the operations of the bank’s IT infrastructure, including its Web environment and call centres. The bank and IBM have also formed, the Innovation Team (I-Team), an initiative aimed at identifying new leading edge projects in the area of e-business.

Desjardins Ducharme Stein Monast acted for the bank, with a team led by André Vautour and assisted by Jacques Lemieux and Réjean Blaquière. IBM Canada was represented in-house by Mario Lavoie, vice-president, legal affairs, and by Lucie Charland, strategic outsourcing contract manager, BNC.