Technology spending to drop 5% during 2009

TowerGroup's annual forecast of major issues facing buy-side managers in the year ahead, 2009 Top 10 business drivers, strategic responses, and IT initiatives in investment management, sees the continuing global credit crisis as the obvious crux of all major business drivers and technology initiatives next year.

Although investments in various technologies - particularly risk management - will be required, the consultancy anticipates managers will have to reduce their technology spending by

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