UBS Signs Strategic Multi-Year Agreement With EPAM to Boost Innovation
January 17 2017 - 12:00PM
EPAM Systems, Inc. (NYSE:EPAM), a leading global provider of
product development and software engineering solutions, today
announced that UBS AG, the world's largest wealth manager, has
signed a multi-year strategic framework agreement. For the past
nine years, UBS and EPAM have collaborated to stay at the forefront
of technology, positioning UBS as a global leader in innovative
financial products and services. The agreement, which is valued at
over $300M, supports the bank’s strategic cost reduction program.
This commitment to efficiency allows EPAM to continue to focus on
innovative, end-to-end solutions, reducing time-to-market and
improving ROI on technology investments.
“Over the past nine years, EPAM has become a key supplier in
helping us meet our clients’ expectations by working closely
together with UBS, while maintaining commitments to productivity
and quality of delivery,” said Mike Dargan, Group Head of
Information Technology, UBS. “We now look forward to evolving this
valued relationship further over the coming years.”
“The wave of innovation and regulatory changes in the financial
services industry has created significant opportunities and
challenges. Throughout our long-standing relationship with UBS, we
helped them push innovation to drive growth and develop scalable
platforms, leveraging our digital design and wealth management
expertise and quickly respond to regulatory and market changes,”
said Balazs Fejes, Sr. Vice President, Co-Head of Global Business,
EPAM. “For us, this multi-year agreement with a global financial
services leader clearly demonstrates EPAM’s capabilities in the
marketplace.”
The partnership between UBS and EPAM spans almost nine years, 10
countries and three continents. In addition to the many business
solutions that EPAM has provided during this relationship,
innovation will be a large focus throughout this multi-year
deal.
About EPAM SystemsSince 1993, EPAM Systems,
Inc. (NYSE:EPAM), has leveraged its core engineering expertise to
become a leading global product development and digital platform
engineering services company. Through its ‘Engineering DNA’ and
innovative strategy, consulting, and design capabilities, EPAM
works in collaboration with its customers to deliver innovative
solutions that turn complex business challenges into real business
opportunities. EPAM’s global teams serve customers in over 25
countries across North America, Europe, Asia and Australia. EPAM is
a recognized market leader among independent research agencies and
was ranked #8 in FORBES 25 Fastest Growing Public Tech
Companies, as a top information technology services company
on FORTUNE’S 100 Fastest Growing Companies, and as a top UK
Digital Design & Build Agency. Learn more at
http://www.epam.com/ and follow us on Twitter
@EPAMSYSTEMS and LinkedIn.
About UBS
UBS provides financial advice and solutions to wealthy,
institutional and corporate clients worldwide, as well as private
clients in Switzerland. The operational structure of the Group is
comprised of our Corporate Center and five business divisions:
Wealth Management, Wealth Management Americas, Personal &
Corporate Banking, Asset Management and the Investment Bank. UBS's
strategy builds on the strengths of all of its businesses and
focuses its efforts on areas in which it excels, while seeking to
capitalize on the compelling growth prospects in the businesses and
regions in which it operates, in order to generate attractive and
sustainable returns for its shareholders. All of its businesses are
capital-efficient and benefit from a strong competitive position in
their targeted markets. www.ubs.com
Forward-Looking Statements This press release
includes statements which may constitute forward-looking statements
made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995, the accuracy of which are
necessarily subject to risks, uncertainties, and assumptions as to
future events that may not prove to be accurate. Factors that could
cause actual results to differ materially from those expressed or
implied include general economic conditions and the factors
discussed in our most recent Annual Report on Form 10-K and other
filings with the Securities and Exchange Commission. EPAM
undertakes no obligation to update or revise any forward-looking
statements, whether as a result of new information, future events,
or otherwise, except as may be required under applicable securities
law.
CONTACT: Danielle Ruess-Saltz
M: 267.978.7688
danielle_ruess-saltz@epam.com
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