Jobbed-Out Work Returns To the Mother Ship

Conrad, Lee
November 2004
Bank Technology News;Nov2004, Vol. 17 Issue 11, p10
Trade Publication
The article reports that two banks have announced plans to reintegrate billions in outsourced work. Market observers say this may signal an information technology (IT) "in-sourcing" trend. IPMorgan Chase terminated a $5 billion, seven-year contract with IBM in September. Later that month, UBS Warburg LLC said it would not renew a $50 million, 10-year contract with Perot Systems when it expires in 2006. JPMorgan officials did not return phone calls, but in a release the firm said its acquisition of Bank One gave it greater IT capacity and that bringing outsourced work in-house is the best strategy for long-term growth and the best value for shareholders.


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