November 12, 2020 – IDA Ireland welcomes today’s announcement by Prudential Financial, Inc. (NYSE: PRU) and Tata Consultancy Services (“TCS”) that they have entered into a strategic relationship related to Pramerica Systems Ireland Ltd. (“Pramerica”), Prudential’s Ireland-based business and technology solutions provider.
IDA Ireland notes and welcomes TCS’s intention to retain and transition the majority of Pramerica Ireland employees to TCS, continuing to provide services back to Prudential, while also strengthening its ability to provide nearshore services and meet the growth and transformation needs of its customers globally. Prudential will maintain an important presence in Letterkenny to support Prudential Global Investment Management (“PGIM”) and certain other functions.
CEO of IDA Ireland Martin Shanahan said: “20 years ago Pramerica began its operations in Letterkenny, with just eight employees. In the last two decades Pramerica has successfully evolved and adapted many times over to become a substantial and significant employer in the North West region. This partnership with TCS is another important chapter in this process. TCS is a leading IT services, consulting and business solutions organisation with a global footprint that is committed to providing services out of the Northwest of Ireland and continue its successful 25-year relationship with Prudential. I wish TCS and Prudential every success with this latest evolution and assure them of IDA Ireland’s continued support.”
END
About Prudential Financial, Inc.
Prudential Financial, Inc. (NYSE: PRU), a financial wellness leader and premier active global investment manager with more than $1.5 trillion in assets under management as of September 30, 2020, has operations in the United States, Asia, Europe and Latin America. Prudential’s diverse and talented employees help to make lives better by creating financial opportunity for more people. Prudential’s iconic Rock symbol has stood for strength, stability, expertise and innovation for more than a century. For more information, please visit news.prudential.com.
About Pramerica Systems Ireland Ltd.
Pramerica provides a range of integrated business and technology services to its parent company, Prudential Financial, Inc., one of the world’s largest financial services institutions. Pramerica partners with Prudential in their mission to solve the financial challenges of our changing world and uses industry leading techniques, tools and processes to do so. The objective is to enhance business performance by bringing forward strategic, innovative and cost-effective solutions.
About Tata Consultancy Services
Tata Consultancy Services is an IT services, consulting and business solutions organization that has been partnering with many of the world’s largest businesses in their transformation journeys for over 50 years. TCS offers a consulting-led, cognitive powered, integrated portfolio of business, technology and engineering services and solutions. For more information, visit us at www.tcs.com.