HP has won a five-year, $500m contract to look after IT for German bank WestLB. HP will take over from 1 January 2005 and 450 WestLB employees will move across to the ink giant.

HP will deal with global IT infrastructure and some application development. It will be responsible for desktops, mail systems, network, intranet and website support. It will also run WestLB's telephony services.

WestLB board member Klaus-Michael Geiger said: "The transfer of our IT functions represents a further milestone in WestLB's strategy of concentrating on its core functions going forward. HP offered us a convincing customized service package that will provide flexible and cost-efficient solutions. In addition, it is supported by a cogent strategy for the employees of WestLB Systems."

WestLB is based in Dusseldorf, Germany, and has offices in London, New York and Tokyo. ®

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