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International Finance
Wealth Management

UBS signs multi-year agreement with EPAM

The world’s largest wealth manager aims to boost innovation by collaborating with a leading global provider of product development and software engineering solutions January 18, 2017: UBS AG, the world’s largest wealth manager, has signed a multi-year strategic framework agreement with EPAM Systems, Inc. (NYSE:EPAM), a leading global provider of product development and software engineering solutions. UBS provides financial advice and solutions to wealthy, institutional...

The world’s largest wealth manager aims to boost innovation by collaborating with a leading global provider of product development and software engineering solutions

January 18, 2017: UBS AG, the world’s largest wealth manager, has signed a multi-year strategic framework agreement with EPAM Systems, Inc. (NYSE:EPAM), a leading global provider of product development and software engineering solutions.

UBS provides financial advice and solutions to wealthy, institutional and corporate clients worldwide, as well as private clients in Switzerland.

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 $300 million, 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.

Mike Dargan, Group Head of Information Technology, UBS, said, “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. We now look forward to evolving this valued relationship further over the coming years.”

Balazs Fejes, Senior Vice President, Co-Head of Global Business, EPAM, said, “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. 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 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.

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