For release: 07 Dec 2006
ExcellerateHRO Signs Benefits Administration Outsourcing Contract with Bank of America
ExcellerateHRO Provides Services for Employees in the UK, Ireland and Canada
PLANO, Texas – ExcellerateHRO today announced it has signed a contract to provide Benefits Administration Services for Bank of America, one of the world’s largest financial institutions.
Under the five-year agreement, ExcellerateHRO will provide flexible benefits plan services to more than 10,000 Bank of America associates in the United Kingdom, Ireland and Canada. The contract expands the scope of Benefits Administration Services already provided by ExcellerateHRO through the addition of associates in the UK and the launch of flexible benefit plan services for Bank of America associates in Ireland and Canada.
“We are delighted that Bank of America has chosen to expand its relationship with ExcellerateHRO,” said Kathryn Kelly, ExcellerateHRO president. “We look forward to serving the needs of Bank of America associates with our innovative technology solutions and best-in-class service offerings.”
Since ExcellerateHRO launched in March 2005, the company has signed or renewed contracts valued at more than $550 million for HR Outsourcing, Benefits Administration, Payroll, and Relocation and Assignment services in North America, EMEA, Latin America and Asia Pacific.
ExcellerateHRO Benefits Administration Services
ExcellerateHRO Benefits Administration Services are delivered on best-in-class technology and industry best practices for program delivery. ExcellerateHRO provides employers with the data and tools to more effectively align both program design and delivery with business needs. ExcellerateHRO enables companies to deliver an enhanced employee experience while achieving a new level of business insight for decision-making and strategic outcomes.
About Bank of America
Bank of America is one of the world's largest financial institutions, serving individual consumers, small and middle market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk-management products and services. The company provides unmatched convenience in the United States, serving more than 55 million consumer and small business relationships with more than 5,700 retail banking offices, nearly 17,000 ATMs and award-winning online banking with more than 20 million active users. Bank of America is the No. 1 overall Small Business Administration (SBA) lender in the United States and the No. 1 SBA lender to minority-owned small businesses. The company serves clients in 175 countries and has relationships with 98 percent of the U.S. Fortune 500 companies and 80 percent of the Global Fortune 500. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange.
About Towers Perrin
Towers Perrin is a global professional services firm that helps organizations around the world to improve their performance through effective people, risk and financial management. Through its HR Services business, Towers Perrin provides global human resource consulting that helps organizations effectively manage their investment in people. Areas of focus include employee benefits, compensation, communication, change management, employee research and the delivery of HR services. The firm’s other businesses are Reinsurance, which provides reinsurance intermediary services, and Tillinghast, which provides management and actuarial consulting to the financial services industry. Together, these businesses have over 5,000 employees and 78 offices in 76 cities in 24 countries. More information about HR Services is available at www.towersperrin.com/hrservices.
About EDS
EDS is a leading global technology services company delivering business solutions to its clients. EDS founded the information technology outsourcing industry more than 40 years ago. Today, EDS delivers a broad portfolio of information technology and business process outsourcing services to clients in the manufacturing, financial services, healthcare, communications, energy, transportation, and consumer and retail industries and to governments around the world. Learn more at eds.com.
About ExcellerateHRO
ExcellerateHRO offers a flexible portfolio of human resources (HR) outsourcing services on a global basis to mid-size and large employer organizations. The jointly-owned company combines the outsourcing experience of EDS with Towers Perrin’s HR expertise to provide benefits administration, compensation administration, payroll, recruitment and staffing, relocation, workforce administration and workforce development. Learn more at www.excelleratehro.com.
ExcellerateHRO and the ExcellerateHRO logo are trademarks of ExcellerateHRO LLP. All other brand or product names are registered marks of their respective owners. ExcellerateHRO is a licensee of the Towers Perrin marks. ExcellerateHRO is an equal opportunity employer and values the diversity of its people. Copyright 2006 ExcellerateHRO. All rights reserved.
Note: News releases are archived on this Web site for historical purposes. Information in the stories is accurate at the time of release. However, service offerings and availability, relationships, contacts and other specified information may change over time. Information as stated in the release may or may not be in effect after the date on the release. For assistance, contact us.