IT in the recession

Tips for IT and business managers looking to understand the financial sector, focus on the market turmoil of the past 12 months, and what the credit crunch will mean for IT budgets.


Life after Lehman Brothers
How much has the collapse of Lehman Brothers has changed the rules of the game for IT departments and technology suppliers?

High paying IT jobs at risk from Wall Street turmoil
Glut of highly skilled, high salaried IT staff will be jobless by year's end, warns management consultant.

Greed, analytics and the mortgage lending crisis
The reliance on analytics and competition may have significantly contributed to morgage crisis. As the boom breaks, what next?

Addressing IT efficiency in a recession
In one sense, IT organisations have been preparing for a downturn for some time, given the considerable pressure over the past several years to curb the rate of IT spending.

Credit Suisse CIO jumps to Merrill Lynch
With the financial services industry in rough shape, veteran CIO Tom Sanzone leaves one company that's in a bit of hot water for another that just suffered its worst quarter ever.

The changing face of ROI
As fear of a recession spurs a renewed interest in value - and as the strategic mission of IT shifts from saving money on back-office functions to enhancing revenue - "return on investment" has taken on new meanings and importance.

Open source in an economic downturn
Open Source software has many virtues, but one above all others is suited to the current economic environment - it enables you to strategically cut costs more than any other IT tool available to you.

Moody’s disciplines staff after £500m software code error
Credit ratings agency Moody’s is starting disciplinary action for some of its ratings staff and executives, after a probe into a software error that incorrectly rated nearly $1bn (£500m) worth of a complex debt product.

Morgan Stanley's IT failed to detect £61m rogue trader
Morgan Stanley’s IT systems were at the heart of a failure to prevent a rogue trader in London from costing the company $120 million (£61 million).

Stringent controls needed to prevent another SocGen event
Additional controls are unlikely to prevent a similar breach event to SocGen being carried out in a different way. What is the real answer to preventing people bucking the system in banks?

Forgotten IT chores may have led to SocGen meltdown
The huge losses reported by French bank Société Générale, apparently caused by a rogue trader with inside knowledge of the bank's procedures, do not necessarily point to an IT systems failure but rather to poor management of those systems, analysts say.

Could your firm be the next SocGen?
It's a lethal combination of process oversights and system failures that is the stuff of CIO nightmares.

IT departments slash spending in economic slowdown
Almost half of large enterprises have slashed their IT budgets this year, according to a report released today.

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