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CMS advises Banco Sabadell on EUR 1 billion agreement with IBM

Deal Alert | January 2020

CMS has advised Banco Sabadell’s technology subsidiary on a EUR 1 billion agreement with IBM to transform its infrastructure and delve further into digitalisation and the use of big data. 

The service agreement between Spain’s fourth largest banking group and IBM has a 10-year term and will enable the bank to push through its digitalisation process and drive the strategic development of its business. The deal also serves to foster the relationship between the two entities and oversee the complete modernisation of the bank’s technology.

Banco Sabadell will work with IBM to transform its technology infrastructure into an advanced platform capable of integrating of all its data and applications, as well as providing a unique, comprehensive and central view of its customers. The agreement will also enable Grupo Banco de Sabadell to implement high security standards and better position the bank to adapt to ongoing regulatory changes.

Involved in the project were: María González Gordon, Elena Esparza, Ignacio Zarzalejos, partners CMS, Ignacio Ramos, counsel CMS, Eva Ceca, senior associates CMS, José Luis Rodríguez, Miguel Recio, Alberto Colomina, Rocío Sanz, associates CMS, and Luis Espejo, trainee CMS. 

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