IBM spinoff Kyndryl launched, roles in Cyprus available

Kyndryl, a managed infrastructure services company, completed its separation from American technology giant IBM on November 3, beginning trading on the New York Stock Exchange the day after.

“We are thrilled that Kyndryl is today an independent company – with 90 000 of the best and brightest professionals, a strong balance sheet and a path to growth,” Kyndryl chairman and chief executive officer Martin Schroeter said in a statement.

“There is a large and growing need for digital transformation services, and our unrivalled global expertise in creating, managing and modernising mission-critical information systems positions us well in a market that will expand to more than $500 billion by 2024, Shroeter added.

The Kyndryl chairman also explained that the company’s flatter and more agile structure will place the firm at ‘the heart of progress’ of its clients and allow it to remain ‘a trusted partner to leading companies throughout the Middle East, Africa and Turkey’.

Meanwhile, IBM chairman and chief executive officer Arvind Krishna said that the separation will allow the company to hone in on the cloud and artificial intelligence-powered services, as well as other core products.

“The separation of Kyndryl is one of many actions we are taking to sharpen our focus on hybrid cloud and AI, leverage a portfolio clearly focused on technology and consulting, and achieve our growth objectives,” Krishna said.

“We look forward to our partnership with Kyndryl as it moves forward as an independent company,” the IBM man added.

IBM has maintained a 19.9 per cent stake in Kyndryl in the form of common stock, although there is an intention of exchanging the shares for IBM debt over the course of a one year period.

The global leadership structure of Kyndryl was confirmed earlier this summer, with Tosca Colangeli being announced as president of the company’s operations in the United Kingdom and Ireland, and Apostolos Leonidopoulos becoming Managing Director of Kyndryl in Greece and Cyprus.

“Kyndryl sets on its course while already being the consulting company trusted by the biggest businesses in Greece and Cyprus, possessing unrivalled technical skills and experience,” Leonidopoulos said.

“I am honoured to lead Kyndryl in these markets and we are committed to providing excellent quality services to our customers in close collaboration with the wider ecosystem of companies in the industry,” he added.

During an online press conference taking place on November 4, leading Kyndryl staff spoke on the company’s potential, objectives and vision for the future.

“I feel that we have a focused mission, that we have local authority, that we can now really reinvest in the business,” Kyndryl president for the UK and Ireland Tosca Colangeli said in reference to Kyndryl’s more agile and flatter structure.

“Our number one message to our people is ‘keep delivering for our customers’, [since] we know continuity is essential to building and keeping the trust of our customers,” Colangeli added.

In terms of job opportunities in Cyprus, a number of roles were available at the time of writing, including VMware Systems Administrator, Network Services Specialist, as well as Financial Controller and Operations, with the latter role involving advising the CFO in Cyprus and Greece.

Kyndryl President for Strategic Markets Rick Ruiz touched on the job opportunities at the company during the press conference.

“Tens of thousands of our Kyndryl employees bring their expertise to customers from our Kyndryl customer innovation centres across EMEA (Europe, the Middle East, and Africa),” Ruiz said.

“We are also hiring for architects, developers, engineers and more across Europe,” Ruiz added.