Waters USA: CTOs See Flat IT Spending in 2012
Technology spending by buy-side and sell-side firms will remain flat—roughly equaling budgets in 2011, and in some cases, 2010—according to CIOs and CTOs who spoke at the Waters USA congress in New York this week.
"The budget will be same as last year, give or take $1 million," says Scott Marcar, global head of risk and financial technology at Royal Bank of Scotland (RBS).
BlackRock CTO Scott Condron says his firm plans to rein in spending to equal 2010 levels. "Last year was a bit of an anomaly
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