CSC Launches Financial Services Group

Computer Sciences Corp. said it started a new business group focusing on the financial services industry. The new group will combine CSC’s existing consulting and computer service businesses, offering a set of services to banking, insurance and investment business customers. El Segundo-based CSC, which had 1996 revenue of $4.74 billion, said it expects the financial services group’s fiscal 1998 revenue to be $1.5 billion. The company already has 7,500 employees supporting more than 1,000 financial clients in 50 countries, which all will be brought under the new group’s umbrella. CSC shares gained $1.25 to close at $63.75 on the NYSE.