Calyon recruits Accenture and Capco for capital markets IT overhaul

Calyon recruits Accenture and Capco for capital markets IT overhaul

Calyon, the corporate and investment banking arm of France's Credit Agricole, has signed consulting, systems integration and application outsourcing agreements with Accenture and Capco.

The two three-year agreements are part of Calyon's IT investment programme, which is designed to support the bank's growing capital markets business with a particular emphasis on the booming derivatives market.

Commenting on the deals, Eric Baudson, global head of Calyon's capital markets supports, says: "IT excellence is vital to the rapid expansion of our capital markets business. We need to accelerate the development and optimise the costs of IT systems that help industrialise complex, high-volume capital markets operations."

He says the deals will provide Calyon with access to Accenture's and Capco's specialised onshore and offshore IT development services.

Farzine Fazel, a Capco partner describes the Calyon transformation project as "one of the largest investments in the re-organisation of IT within the capital markets industry".

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