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UBS Signs Strategic Multi-Year Agreement With EPAM to Boost InnovationNEWTOWN, Pa., Jan. 17, 2017 (GLOBE NEWSWIRE) -- EPAM Systems, Inc. (NYSE:EPAM), a leading global provider of product development and software engineering solutions, today announced that UBS AG, the world's largest wealth manager, has signed a multi-year strategic framework agreement. For the past nine years, UBS and EPAM have collaborated to stay at the forefront of technology, positioning UBS as a global leader in innovative financial products and services. The agreement, which is valued at over $300M, supports the bank’s strategic cost reduction program. This commitment to efficiency allows EPAM to continue to focus on innovative, end-to-end solutions, reducing time-to-market and improving ROI on technology investments. “Over the past nine years, EPAM has become a key supplier in helping us meet our clients’ expectations by working closely together with UBS, while maintaining commitments to productivity and quality of delivery,” said Mike Dargan, Group Head of Information Technology, UBS. “We now look forward to evolving this valued relationship further over the coming years.” “The wave of innovation and regulatory changes in the financial services industry has created significant opportunities and challenges. Throughout our long-standing relationship with UBS, we helped them push innovation to drive growth and develop scalable platforms, leveraging our digital design and wealth management expertise and quickly respond to regulatory and market changes,” said Balazs Fejes, Sr. Vice President, Co-Head of Global Business, EPAM. “For us, this multi-year agreement with a global financial services leader clearly demonstrates EPAM’s capabilities in the marketplace.” The partnership between UBS and EPAM spans almost nine years, 10 countries and three continents. In addition to the many business solutions that EPAM has provided during this relationship, innovation will be a large focus throughout this multi-year deal. About EPAM Systems About UBS UBS provides financial advice and solutions to wealthy, institutional and corporate clients worldwide, as well as private clients in Switzerland. The operational structure of the Group is comprised of our Corporate Center and five business divisions: Wealth Management, Wealth Management Americas, Personal & Corporate Banking, Asset Management and the Investment Bank. UBS's strategy builds on the strengths of all of its businesses and focuses its efforts on areas in which it excels, while seeking to capitalize on the compelling growth prospects in the businesses and regions in which it operates, in order to generate attractive and sustainable returns for its shareholders. All of its businesses are capital-efficient and benefit from a strong competitive position in their targeted markets. www.ubs.com Forward-Looking Statements CONTACT: Danielle Ruess-Saltz M: 267.978.7688 [email protected] |