Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us    
Google
Web www.equitybulls.com
Stock Report

| More

Barclays expands strategic IT relationship with HCL Technologies

Posted On: 2018-12-04 18:34:53

HCL Technologies (HCL), a leading technology company has announced an expansion of its strategic relationship with Barclays. In addition to HCL being named as Barclays' preferred partner for IT infrastructure services, the two companies will commit to building the partnership globally, with particular opportunities regarding digital workplace services.

HCL will leverage its significant investments in Al and automation, including its award-winning automation platform DryICETM, to transform the user experience for more than 80,000 Barclays employees across 26 countries. HCL will also be providing mainframe services to Barclays.

As part of the deal, it is intended that approximately 460 Barclays employees in its Operations Center in Lithuania will transfer to HCL, which promises to start a new era of technology centers in Lithuania. The agreement with HCL forms the basis of the Barclay's decision to conclude its operations in Lithuania, with remaining employees being offered redundancy.

The contract between HCL and Barclays is yet to be executed pending banking regulatory notification;, both companies hope to conclude the deal during the first quarter of 2019.

Rahul Singh, President of Financial Services at HCL Technologies, commented: "Our partnership with Barclays is a significant endorsement of HCL's digital workplace and automation capabilities. We already employ more than 10,000 people in Europe, serving over 200 European clients. This new agreement will see HCL deliver transformational services to both Barclays and other major clients from Lithuania. Many well-known brands have already established their centers in Lithuania and we see good potential here due to the attractive investment climate and specialist talent. We will leverage these with our unique Mode 1-2-3 strategy to enable clients to reimagine their businesses for the digital age."

Global decision to optimize operations

Mariano Andrade Gonzalez, the Head of BGOL, commented: "We were the first foreign company to establish its service center in Lithuania, leading to other large foreign companies basing themselves here. We are proud to have been a key part of the rise of the IT and service sector, including complex operations management.

"While aiming to achieve the highest quality of business and services, we continuously review our operations in accordance with the long-term global strategy of Barclays. As one of the steps towards the implementation of this strategy, a decision has been made to optimize operations, meaning a number of roles could transfer to HCL Technologies, with whom we have worked closely for a few years.

"We chose HCL Technologies because we know the company well, we trust it and, together with our people, it shares our values, culture and ways of working."

Gonzalez praises Lithuania

M. Andrade Gonzalez also claims that even though today the role of Barclays in Lithuania is coming to an end, the company leaves its legacy.

"We are grateful to Lithuania for its hospitality, its talented specialists and a well-developed infrastructure, and we believe that we have done great things together, both in regard to business and in relation to the promotion of the country. We have always been, and will continue to be, ambassadors of Lithuania worldwide and will recommend Lithuania to our partners and foreign investors."

Shares of HCL TECHNOLOGIES LTD. was last trading in BSE at Rs.1038.4 as compared to the previous close of Rs. 1018.65. The total number of shares traded during the day was 153370 in over 1362 trades.

The stock hit an intraday high of Rs. 1042.3 and intraday low of 1017.9. The net turnover during the day was Rs. 158729933.


Source: Equity Bulls

Click here to send ur comments or to feedback@equitybulls.com





Other Headlines:

Vikram Thermo India Ltd posts net profit of Rs. 0.60 crore in Q3

Lumax Auto Technologies Ltd updates on the PCB business

Robert Bosch Automotive Steering GmbH terminates JV agreement with ZF Steeting Gear India Ltd

Karnataka Bank bags ET Now - BFSI Awards

V-Mart Retail Ltd opens new store in Bihar, closes one

KPI Global bags order of 213.75KW Solar Power Plant under Captive Power Producer

Karnataka Bank shifts its Arehalli Branch to new premises on 16-02-2019

Shalby Hospitals Bestowed With Best IT Enabled Hospital Award 2019

PNC Infratech bags Rs.186 crore PWD road project in UP

Karnataka Bank opens its 838th Branch at Mysuru-Ramanuja Road on 16-02-2019

Ujaas Energy to launch E Scooter

Ground breaking Ceremony of Hooghly Cochin Shipyard Limited's New Yard Construction at Nazirgunge, Kolkata

Dr. Reddy's Laboratories Ltd receives EIR for Formulations Unit at Duvvada, Vizag

Karnataka Bank introduces 475 days special term deosit Scheme

Tech Mahindra Ltd board to consider buy back on Feb 21, 2019

Megasoft announces third quarter results for FY19

HCL Technologies and IBM Collaborate to Accelerate Clients' Hybrid Cloud Journey

Simplex Infra announces Q3FY19 results

Seya Industries Ltd 9MFY19: Sustained Momentum in Business

Alembic Pharmaceuticals announces USFDA Approval for Moxifloxacin Ophthalmic Solution USP 1 0.5%.

Gujarat Terce Laboratories Ltd launces Acolate Plus Tablet

BEML at Aero Show

HOCL approves proposal for sale of 8.08 acres land at Panvel

NIIT recognised as 'Best Training Institution' at the 9th Indian Education Congress at Awards 2019

Sonata Software completes acquisition of Sopris Systems LLC

Karda Constructions Limited announces 3QFY2019 results

Diligent Media Corporation Limited concludes sale of leasehold land for Rs. 57.32 crores

PNC launches streaming of movies on Netflix

Lupin launches Clobazam Oral Suspension, 2.5mg/ml

Technocraft Industries India Ltd opens operations in New Zealand

TRF Ltd approves issue of NCRPS to Tata Steel Ltd

Raminfo Q3 FY19 net profit increases 14.3% with revenue being Rs. 7.60 Crs

Paramount Communications Ltd bags order of Rs. 69.53 crores

ICRA assigns ratings to Nahar Industrial Enterprises Ltd

Sun Pharma returns product rights of Elepsia™ XR back to SPARC

NBCC India Ltd submits resolution plan for Jaypee Infratech Ltd

Lumax Industries Ltd announces setting up of in-house Electronic Facilities

IDFC FIRST Bank to sell stake in Digikredit

Karnataka Bank MD & CEO Shri Mahabaleshwara M S, conferred with 'CEO with HR Orientation Award'

Aanchal Ispat Ltd reports jump in Q3 PAT to Rs. 2.21 crores

Celestial Biolabs Ltd Q3 net profit slides to Rs. 0.07 crore

Donear Industries Ltd reports Q3 FY19 net profit of Rs. 5.14 crores

Mindteck Reports Financial Results for the Third Quarter Ending December 31, 2018

India Home Loan Ltd board approves fund raising proposal through warrants

Mangalore Chemicals & Fertilizers Ltd updates on annual maintenance

Zensar on the path of Rapid Innovation

ONGC board declares interim dividend of Rs. 5.25

Stovec Industries Ltd board recommends final dividend of Rs. 55

Neelamalai Agro Industries Ltd Board declares Interim Dividend of Rs. 10

Tata Power Solar now launches an extensive residential rooftop solution at Hyderabad







Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2019