A Study of Senior IT Executives at New York
Metro Financial Services Institutions
John J. Davis & Associates LLC
| 1. | Which best describes IT spending by your institution? |
| 42% IT spending has increased | |
| 35% IT spending has remained about the same | |
| 23% IT spending has been cut |
| 2. | If the economy continues to soften, is it likely that your institution will cut IT spending/cut it further? |
| 62% Yes | |
| 27% No | |
| 11% Don’t know |
| 3. | Which best describes IT staffing by your institution? |
| 27% IT staffing has increased | |
| 50% IT staffing has remained about the same | |
| 23% IT staffing has been cut |
| 4. | If the economy continues to soften, is it likely that your IT organization will cut its staff/cut it further? |
| 39% Yes | |
| 46% No | |
| 15% Don’t know |
| 5. | Is your IT organization currently doing any of the following? (check all that apply) |
| 58% implementing an integrated e-business strategy | |
| 69% expanding communications bandwidth | |
| 77% replacing aging or incompatible platforms | |
| 54% setting institution-wide systems standards | |
| 69% improving security/integrity of systems/databases | |
| 50% outsourcing IT applications |
| 6. | Ten years ago, it was predicted that advances in communications technology would diminish New York’s pre-eminence as a financial center since technology would make location irrelevant. In your view, which of the following best describes IT’s impact on Metro New York as a financial services center? |
| 42% It’s enhanced New York’s pre-eminence | |
| 8% It’s diminished New York’s pre-eminence | |
| 50% It’s been a wash |
| 7. | In your opinion, does Metro New York: |
| Offer access to the best IT talent 84% Yes 8% No 8% No opinion | |
| Have superior IT outsourcing providers 46% Yes 46% No 8% No opinion | |
| Offer a strong IT infrastructure 88% Yes 8% No 4% No opinion | |
| Foster effective professional networking 77% Yes 15% No 8% No opinion |
| 8. | Do you think that New York is still the pre-eminent financial services center? |
| 100% Agree | |
| 0% Disagree | |
| 0% No opinion |
| 9. | What areas of the U.S., if any, pose a challenge to New York’s pre-eminence? |
| Boston, California and Chicago |
| 10. | I am: |
| 85% male 15% female |
| 11. | What’s your age group? |
| 0% under 35 8% 36-40 27% 41-45
27% 45-50 23% 51-55 15% over 55 |
| 12. | What kind of institution do you work for? |
| 24% brokerage 4% insurance | |
| 4% asset management firm 20% commercial bank | |
| 8% investment banking 40% diversified financial services |
| 13. | How many years have you worked for your present employer? |
| 19% less than 1 year 4% 1-2 years 31% 2-4 years | |
| 11% 4-6 years 8% 6-8 years 30% more than 8 years |
| 14. | How many years have you held your present position? |
| 23% less than 1 year 27% 1-2 years 27% 2-4 years | |
| 8% 4-6 years 4% 6-8 years 12% more than 8 years |