The New Wave Of Outsourcing - Staff And All

Banks are now starting to think the unthinkable. In increasing numbers they are beginning to allow outsiders to manage their IT systems after a brace of massive outsourcing deals were announced in the fourth quarter of last year. IBM, for example, recently announced the biggest outsourcing deal of its kind in the financial sector when JP Morgan Chase agreed a seven year outsourcing agreement in excess of $5 billion with the IT behemoth. JPM plans... [Read More...]

Rogue Trading For Dummies

The recent sentencing of AIB’s John Rusnak has shifted focus back onto the risk banks face from their own staff. Kris Sangani tells how Rusnak could have been stopped with the right checks in place John Rusnak was jailed in February 2003 for seven and a half years without parole and has been ordered to pay $1000 a month back to his former employer, Allfirst of Boston who lost $691 million through his rogue trading activities, for a period of five... [Read More...]