WestLB AG Picks HP for IT Services Provider

HP (www.hp.com) announced that it has been selected by WestLB AG, a European commercial bank and one of Germany's leading financial services providers, to be its worldwide information technology services provider.

"The transfer of our IT functions represents a further milestone in WestLB's strategy of concentrating on its core functions going forward," said Klaus-Michael Geiger, a member of WestLB's Managing Board.

With an expected implementation starting on Jan. 1, 2005, HP has been chosen to manage WestLB's global IT infrastructure and some of its application development.

The planned five-year collaboration includes services, for an estimated value of approximately $500 million, and the transfer of about 450 employees worldwide based in Düsseldorf, Germany, London, New York and Tokyo.

"We are pleased to establish a strategic relationship with WestLB AG and provide our global expertise in IT outsourcing to help them reduce costs and become more agile," said Uli Holdenried, senior vice president, Managed Services, HP.

HP expects to provide comprehensive services ranging from application services to infrastructure services to the global management of WestLB's desktop environment, including mail systems, workplace technology and telephony.

HP will provide the management and operation of its networks, and the development and support of its website and Intranet. In addition, HP will provide customer support and project services.

HP plans to support WestLB's IT environment based on its Adaptive Enterprise strategy, which is designed to help companies synchronize business and IT to capitalize on change.