HSBC Aims to Achieve Global Platform ROI
HSBC's overall IT budget in 2009 will be "flat-ish," according to Ken Harvey, group managing director and group chief technology and services officer, who spoke during an investor relations event last week. "What you'll see is a significant shift in the way HSBC spends its money," he says. The costs to run the bank, including credit card processing, securities trading and clearing, for example, are decreasing. That can be attributed to the consolidation of systems and datacenters as well as
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