IR Releases - Archive

December 18, 2002

Deutsche Bank and IBM sign outsourcing contract

Deutsche Bank and IBM today announced the signing of a strategic outsourcing agreement in which Deutsche Bank will outsource its computer centers in continental Europe to IBM. The contract is valued at approximately EUR 2.5 billion over a 10-year period. Under the partnership, IBM will provide a wide range of technology services. The deal includes the transition of Deutsche Bank resources, systems and approximately 900 employees to IBM, due to take place in the first quarter of 2003. The IT infrastructure area to be outsourced extends to computer centers and smaller server sites in Germany, Belgium, Italy, Luxembourg, Poland, Portugal, Spain and Switzerland.

Deutsche Bank Chief Operating Officer Hermann-Josef Lamberti said: "Deutsche Bank expects to save around EUR 1 billion over 10 years, largely converting what until now have been fixed costs of operating our own computer centers into usage-based, variable costs. In addition, we are confident that our employees are joining a partner who can offer them better development opportunities in their field of expertise than we can as a bank."

The transaction is subject to approval by the respective bodies and regulatory authorities.

This Investor Relations Release contains forward-looking statements. Forward-looking statements are statements that are not historical facts, including statements about our beliefs and expectations. Any statement in this Investor Relations Release that states our intentions, beliefs, expectations or predictions (and the assumptions underlying them) is a forward-looking statement. These statements are based on plans, estimates and projections as they are currently available to the management of Deutsche Bank. Forward-looking statements therefore speak only as of the date they are made, and we undertake no obligation to update publicly any of them in light of new information or future events.

Forward-looking statements involve inherent risks and uncertainties. A number of important factors could therefore cause actual results to differ materially from those contained in any forward-looking statement. Such factors include the conditions in the financial markets in Germany, in Europe, in the United States and elsewhere from which we derive a substantial portion of our trading revenues; potential defaults of borrowers or trading counterparties; the implementation of our restructuring including the envisaged reduction in headcount; the reliability of our risk management policies, pro-cedures and methods; and other risks referenced in our filings with the U.S. Securities and Exchange Commission. Such factors are described in detail in our SEC Form 20-F of March 27, 2002 on pages 9 through 13 under the heading "Risk Factors." Copies of this document are readily available upon request or can be downloaded stated below.

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