Sell-side IT Budgets Plummet
NEWS
The disappearance of three major players is of course a significant factor in this drop. The bankruptcy of Lehman Brothers and the acquisition of Merrill Lynch and Bear Stearns account for a 4 percent to 5 percent decline alone, TowerGroup finds. Bank of America, JPMorgan and Barclays may see slightly increased IT budgets as they work to assimilate Merill Lynch, Bear Stearns and parts of Lehman Brothers, respectively, Hegarty adds.
The sell-side landscape has dramatically changed since March this
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