The Commercial Bank of Qatar (Commercialbank) has announced that it has signed an agreement with Tata Consultancy Services (TCS) to establish the outsourcing of a number of the Bank's back office processing and information technology services. TCS, a leading IT services, consulting and business solutions organisation provides similar support services to a large number of international banks. The outsourcing of these support services is designed to improve the delivery of Commercialbank's banking proposition to its customers, and to benefit from the world-class processes developed by TCS with its other international banking clients.
Latham & Watkins represented Commercialbank with a corporate team led by partner Andrew Moyle and senior associate Justin Cornish with associates Alice Marsden and Emily Martin. "We are delighted to have advised Commercialbank on this landmark business process and IT outsourcing transaction. This deal sets a benchmark for outsourcing transactions in the region and is notable for its scale and complexity. Working alongside the in-house team, we provided strategic business and legal advice to senior management on the critical risk, compliance and control issues in undertaking a deal of this complexity. Commercialbank and TCS have agreed an innovative contract focussed on achieving a successful long term relationship and realising Commercialbank's key objectives, including continuous service improvement for the benefit of the bank's customers and best practice governance within Commercialbank's IT and operations functions," said Andrew Moyle.
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© Press Release 2011
