Magazine article American Banker

EDS Sets Up Unit to Woo Globe-Spanning Banks

Magazine article American Banker

EDS Sets Up Unit to Woo Globe-Spanning Banks

Article excerpt

Electronic Data Systems Corp. said it has reorganized to go more aggressively after computer services contracts from multinational banks.

The data processing giant has created a global banking division based in New York and headed by Stephen R. Bova, 49, who spent 10 years building the global financial institutions division of Alltel Information Services Inc., Little Rock.

Both of those rivals, and indeed the entire outsourcing industry, have come to view the biggest banks as their greatest growth opportunity.

"This is the group of banks that will spend the lion's share on technology over the next few years," Mr. Bova said in an interview.

Mr. Bova, who joined Plano, Tex.-based EDS last month, said his division will focus exclusively on servicing commercial banks with operations on "multiple continents."

EDS will peddle software, systems integration, and outsourcing services, he said.

EDS has had a less formal presence in the global banking market for three years. In June it signed a $250 million contract to manage desktop computer systems for Citicorp. In January 1995, it signed a $350 million outsourcing agreement with American Express Bank Ltd. of New York.

Executives at EDS said the reorganization reflects their intent to home in on specific lines of business. "The complex requirements of global banks demand a focused approach that is best realized through a single, dedicated unit," said Coley Clark, senior vice president at EDS.

The reorganization also spawned three other divisions - community banking, U. …

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