TCS plans single biz unit

Tata Consultancy Services said on Monday it will consolidate its financial products into a single business unit -- TCS Financial Solutions.

The unit would function as a 'products company' within the TCS family and drive growth in the financial products business, a company statement said in New Delhi.

TCS Financial Solutions will have a separate management

team headed by N G Subramaniam as president. It will have sales, support and product management offices based in New York, London and Zurich, Beijing, Sydney, Sao Paolo, besides Bangalore.

The product offerings from TCS Financial Solutions will be positioned under an umbrella brand --TCS BaNCS. TCS Financial Solutions has a customer base of 214 financial institutions across 80 countries and in last fiscal, the company won over 50 new customer, while 35 new installations of its products went live globally.