Deutsche Bank will outsource large parts of its wholesale banking IT infrastructure to U.S.-based Hewlett-Packard (HP) in a multibillion-dollar deal that leaves the group's retail operations untouched. Under the 10-year agreement, HP will provide computing capacity and data storage to host Deutsche's operations, the two companies said in a joint statement on Tuesday. Deutsche will retain activities such as IT architecture and information security. The HP deal will allow the bank to reduce costs and launch new products and services more quickly, Deutsche Bank Chief Operating Officer Henry Ritchotte said in a statement.
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