Deutsche Bank to Outsource IT Infrastructure to HP

Digital Marketing Agency, Deutsche Bank will pick HP for much of its wholesale banking division’s IT infrastructure in a 10 year multibillion-dollar deal with IBM retaining the job of managing the retail banking arm.

HP will use its own computing, storage and networking capacity to host Deutsche’s operations; however, key compliance-regulated areas such as IT architecture and information security remain in Deutsche’s control. Chief operating officer Henry Ritchotte says the arrangement means the wholesale section of Deutsche Bank can cut costs and launch new products and services more quickly.

According to analyst Clive Longbottom, senior researcher for Quocirca, the overall strategy for Deutsche Bank is to divest itself of IT and data centers.

He said: “This is something that we’ve been saying has to be the case for years. IT workers who are very technically focused should be looking to get employment with an HP, IBM or service provider company. Those that want to stay working for a company that uses IT, rather than provides it, need to re-skill to become business advisors.”