Bank of Canada Outsources Support to EDS

The Bank of Canada announced a 91/2 year, $400 million contract with EDS Canada Inc. for the outsourcing of systems and operations support services for the federal government’s retail debt program on June 27, 2001. As a result of the agreement, about 500 Bank of Canada employees are expected to join EDS. The contract followed a year-long competitive process to select a private-sector partner.

Bank of Canada counsel Kerry Davison led the bank’s in-house team, advised by Marie Bordeleau (HR) and Robert Turnbull (pensions). A Stikeman Elliott team led by Alison J. Youngman of the Toronto office advised the Bank of Canada throughout the process and included Stuart McCormack and Jeff Brown (intellectual property), Lorna Cuthbert (employment), Gary Nachshen (pensions), Joanne Swystun (tax) and Greg Hogan (commercial). EDS Canada was represented by General Counsel Richard Austin, Senior Legal Advisor Diana Masiero and Deeth Williams Wall LLP’s Amy-Lynne Williams.