Roundtable: Investment Banking and Investing in Technology
Information technology is the catch phrase of the moment. The issues surrounding Y2K, the introduction of the euro and spread of the internet are the bread and butter of an ever-expanding industry. They are also the daily bread of the key figures we invited to participate in our roundtable. What are the new challenges they face and how did they solve the old?
Edited by Hannah Wilde.
Andersen Consulting Financial Services Partner
Tim Coote, James Greaves, Simon Lake, Jason Love, and Amanda Sherwood
Global CIO, Investment Banking, Dresdner Kleinwort Benson
Head of IT/Operations, Deutsche Bank
Partner, Corporate and Investment Banking IT, KPMG Consulting
What are the three biggest technology challenges you have faced over the last three years? Today?
Al-Noor Ramji, Dresdner Kleinwort Benson: Assuming that you don't include people in this question, I would say that the biggest challenges have been to integrate third party and in-house software, to build a complete range of component services and to repair/fix the bad design of third party software.
The issue today is one of "putting the Investment Bank on the Web" for our clients as well as our enterprise internally.
Bill Cline, Andersen Consulting: In the past three years the biggest challenges have been the decommissioning of legacy systems, controlling spiraling costs, and management issues surrounding the introduction of new, disruptive technologies such as oo-dbms, web, and middleware. Currently, it is the issue of e-commerce as well as the concommitant new processes, revenues and clients.
Tim Coote & James Greaves, Cap Gemini: Most banks would like to see their legacy systems as an asset, not a drain.