Under the agreement, El Segundo, California-based CSC, the No. 3 IT services firm in the United States, will acquire and manage the bank's data center, help desk, network, and communications operations. Financial terms of the contract were not released.
Through the deal, which is expected to be finalized next month, 127 Republic employees will be offered jobs at CSC's New York City location.
A subsidiary of Republic New York Corporation, Republic National Bank of New York posted $50.4 billion in assets in 1998 and total stockholders' equity of $3.1 billion.