The Royal Bank of Scotland has terminated a $300 million contract with Indian technology firm Infosys following the announcement last week that RBS will no longer pursue its plan to separate and list a new UK standalone bank, Williams & Glyn.
Infosys said it had been a “program technology partner for consulting, application delivery and testing services” on the Williams & Glyn project and will now carry out “an orderly ramp-down of about 3,000 persons, primarily in India, over the next few months.”
RBS is instead planning to sell the roughly 300 branches and assets that would have comprised Williams & Glyn.
On August 5, RBS said it has had talks with a number of potential buyers for the bulk of the 300-branch network. Santander and Clydesdale and Yorkshire Bank (CYBG) are understood to be among them.
Infosys said: “RBS is a key relationship for Infosys and the company looks forward to further strengthening our strategic partnership and working with them across other strategic and transformation programs.”