RBS cancels new UK standalone bank plans
The Royal Bank of Scotland announced last week that it will no longer pursue its plan to separate and list a new UK standalone bank, Williams & Glyn (W&G), and instead will pursue other options for the divestment of this business.Infosys has been a W&G program technology partner for Consulting, Application Delivery and Testing services, and subsequent to this decision, will carry out an orderly ramp-down of about 3,000 persons, primarily in India, over the next few months.
RBS is a key relationship for Infosys and the company looks forward to further strengthening this strategic partnership and working with them across other strategic and transformation programs.
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