GLOBAL - Bank of Bermuda has approved the plan to outsource the bank's IT applications, infrastructure and capital projects management.
Its Board has authorised management to conclude contracts with EDS and Cable & Wireless, subject to employee consultation and regulatory and immigration approvals.
The proposed 12 year contract with EDS is estimated to be worth US$375m and the proposed five year contract with C&W is worth approximately US$20m. It is anticipated that approximately 290 Bank of Bermuda IT employees globally will transfer to EDS.
The registration deadline for the Workplace Savings & Benefits Awards 2019 is today.
This week's top stories were the DWP giving the green light to CDC and TPR granting extensions for 11 master trust authorisation applications.
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The Pensions Regulator (TPR) has granted Now Pensions a six-week extension for its master trust authorisation application after the 31 March deadline, PP can reveal.