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LONDON | BENGALURU, India – May 28, 2024: Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading technology services and consulting company, and Close Brothers today announced that Wipro, selected by Close Brothers last July as a strategic IT services partner, will further help drive technology delivery and transformation for the bank. Wipro will support the transformation of Close Brothers’ IT operations and modernization of their technology ecosystem to create a more digitally enabled, modern and agile IT environment that is secure, resilient, and sustainable.
The project is part of Close Brothers’ Technology Transformation Programme initiated in 2023. It supports Close Brothers in the delivery of its strategy, focused on providing exceptional customer and employee experiences that support the firm's relationship-based model.
Under the multi-year agreement, the Wipro team will set up a flexible target operating model that balances autonomy and efficiency, introduce service measures such as improved productivity, and better customer experience, while aligning with business & IT goals.
Wipro will provide integrated IT services across several business functions such as service desk, end-user computing, application development and maintenance, cloud operations, and IT infrastructure management to improve synergies within Close Brothers’ IT landscape for better business agility.
Simon Jacobs, Group Chief Operating Officer, Close Brothers, said, “Wipro’s extensive transformation knowledge and experience is invaluable as we work to streamline our processes and IT ecosystems. With their support, we will become a more agile, and a more efficient partner to our customers.”
Yogesh Sholapurkar, Bank Chief Information Officer, Close Brothers, said, "We are extremely pleased to partner with Wipro. Their track record with other financial firms, the ability to scale, access to skills that we need for transforming our technology estate, and cultural alignment with Close Brothers, were the key factors in choosing them as a strategic technology partner."
Omkar Nisal, UKI Managing Director, Wipro Limited, said, "We're delighted to have been selected by Close Brothers to help them on their growth journey and to support them in enabling technology transformation and delivering further business value. Leveraging our wide-ranging technology expertise, including GenAI technologies, we will work closely with Close Brothers to support them with their business needs and help them achieve their ambitions.”
About Close Brothers
Close Brothers is a leading UK merchant banking group providing lending, deposit taking, wealth management services and securities trading. We employ approximately 4,000 people, principally in the United Kingdom and Ireland. Close Brothers Group plc is listed on the London Stock Exchange and is a constituent of the FTSE 250.
Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO) is a leading technology services and consulting company focused on building innovative solutions that address clients’ most complex digital transformation needs. Leveraging our holistic portfolio of capabilities in consulting, design, engineering, and operations, we help clients realize their boldest ambitions and build future-ready, sustainable businesses. With over 230,000 employees and business partners across 65 countries, we deliver on the promise of helping our customers, colleagues, and communities thrive in an ever-changing world. For additional information, visit us at www.wipro.com.
Media Contact:
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Forward-Looking Statements
The forward-looking statements contained herein represent Wipro’s beliefs regarding future events, many of which are by their nature, inherently uncertain and outside Wipro’s control. Such statements include, but are not limited to, statements regarding Wipro’s growth prospects, its future financial operating results, and its plans, expectations, and intentions. Wipro cautions readers that the forward-looking statements contained herein are subject to risks and uncertainties that could cause actual results to differ materially from the results anticipated by such statements. Such risks and uncertainties include, but are not limited to, risks and uncertainties regarding fluctuations in our earnings, revenue and profits, our ability to generate and manage growth, complete proposed corporate actions, intense competition in IT services, our ability to maintain our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which we make strategic investments, withdrawal of fiscal governmental incentives, political instability, war, legal restrictions on raising capital or acquiring companies outside India, unauthorized use of our intellectual property and general economic conditions affecting our business and industry.
Additional risks that could affect our future operating results are more fully described in our filings with the United States Securities and Exchange Commission, including, but not limited to, Annual Reports on Form 20-F. These filings are available at www.sec.gov. We may, from time to time, make additional written and oral forward-looking statements, including statements contained in the company’s filings with the Securities and Exchange Commission and our reports to shareholders. We do not undertake to update any forward-looking statement that may be made from time to time by us or on our behalf.
