LONDON, July 11, 2023 — Kyndryl (NYSE: KD), the world’s largest IT infrastructure services provider, and Legal & General (L&G), the leading financial services group and major global investor, today announced they will extend their long-term partnership to accelerate L&G’s technology transformation agenda and drive its migration to a leading edge, multi-cloud environment.
L&G has engaged Kyndryl to transition the hosting of IT systems to a new data center, in doing so reducing technical debt, simplifying architecture, accelerating cloud transformation, and consuming services in a more carbon efficient way. The new 7-year agreement, lasting to March 31st, 2030, will enable L&G to scale its operations to support its growth ambitions and gain greater technical and commercial flexibility. Joining the project as suppliers are Microsoft and Dell Technologies, bringing market-leading capabilities to support L&G.
In addition to L&G’s existing use of public cloud services as part of the program, Kyndryl will implement a new on-premises Microsoft Azure hybrid cloud platform from Dell powered by Azure Stack HCI, closely coupled with the zCloud mainframe, helping to mitigate any potential latency constraints and providing a building block for further public cloud migrations.
We see this as a strategic opportunity for Kyndryl and L&G to build on our partnership, leveraging Kyndryl’s deep expertise and experience in providing secure, compliant and resilient compute, mainframe and cloud transformation services, alongside their knowledge of Legal & General.
This collaboration is the next phase in a relationship dating back to 2010, with Kyndryl and L&G coming together again, as one team, to support L&G’s technology modernization objectives. L&G selected Kyndryl for its track record as a strategic partner, long history of running complex transformation projects (including mainframe) in the Financial Services sector, and the strength of its alliance partner network.
The Financial Services sector is continuing the trend of digital transformation, and enterprises across the industry face similar challenges of navigating between legacy, monolithic systems underpinned by traditional processes, and the need to shift their operations to leverage the growing capabilities of cloud technologies.
“We see this as a strategic opportunity for Kyndryl and L&G to build on our partnership, leveraging Kyndryl’s deep expertise and experience in providing secure, compliant and resilient compute, mainframe and cloud transformation services, alongside their knowledge of Legal & General. Kyndryl has taken a strong one-team ethos to the program, underpinned by transparency and a great affinity to L&G’s unique culture and purpose,” said Mark Hall, Group Chief Technology Officer, L&G.
“We are helping L&G accelerate the modernization and simplification of their IT estate, generate cost efficiencies and reduce carbon emissions through migration to Azure Stack HCI at Kyndryl’s new strategic data center. The deal also includes mainframe optimization projects, staff augmentation, and the implementation of Kyndryl Bridge,” said Joe Taylor, Managing Partner, Kyndryl. “Stronger together and collaborating as one team, we will bring the very best talent to restlessly innovate and accelerate L&G’s IT strategy.”
“In a further demonstration of both organizations’ strategic commitments to sustainability, this relationship will see Kyndryl move Legal & General’s services to a modern data center location to consume services in a more carbon-efficient way and reduce its environmental footprint. The new data center is rated ‘excellent’ by BREEAM’s sustainability assessment framework, with an industry-leading PUE of 1.2. It is planned to be powered by 100% renewable energy aligning with Kyndryl and L&G’s sustainability commitments,” said Faith Taylor, Vice President and Global Sustainability Officer, Kyndryl.
Kyndryl (NYSE: KD) is the world’s largest IT infrastructure services provider serving thousands of enterprise customers in more than 60 countries. The company designs, builds, manages and modernizes the complex, mission-critical information systems that the world depends on every day. For more information, visit www.kyndryl.com.
About Legal & General
Established in 1836, Legal & General is one of the UK's leading financial services groups and a major global investor, with over £1.2 trillion in total assets under management* of which a third is international. We also provide powerful asset origination capabilities. Together, these underpin our leading retirement and protection solutions: we are a leading international player in pension risk transfer, in UK and US life insurance, and in UK workplace pensions and retirement income. Through inclusive capitalism, we aim to build a better society by investing in long-term assets that benefit everyone.
*at Dec 31st, 2022
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