Capsule: Suresh Kumar, Pershing LLC

Despite the stress experienced by the financial services industry, now is not necessarily the time to abandon capital-intensive technology investments, Mr. Kumar said.
JAN 04, 2009
By  Bloomberg
SURESH KUMAR Managing director and chief information officer Pershing LLC Jersey City, N.J. General outlook: Despite the stress experienced by the financial services industry, now is not necessarily the time to abandon capital-intensive technology investments, Mr. Kumar said. "It is times such as these when firms must continue to invest in technology and think strategically about how to grow their businesses and position themselves for success," he said. Next big trend: "Because of recent changes in technology, such as a more robust Internet and cloud computing/software as a service, there is a significant opportunity for smaller firms to benefit from a technology infrastructure that only larger firms have traditionally enjoyed," he said. Biggest concern: Market volatility can create unpredictable usage patterns when it comes to technology services and there are many important industry utilities and service providers that help each other process transactions, Mr. Kumar said. "While we proactively monitor usage on our platform to ensure it is operating at peak performance, it is critical that all industry participants remain prepared," he said. Reading, watching, listening to: Book: "The Unthinkable: Who Survives When Disaster Strikes — and Why?" by Amanda Ripley (Random House Inc., 2008) TV: "The Office," Giants and Jets football. Radio: "Imus in the Morning" Primary News Sources: wsj.com, newyorktimes.com wired.com cio.com, research.ibm.com/journal/sj/

Latest News

The power of cultivating personal connections
The power of cultivating personal connections

Relationships are key to our business but advisors are often slow to engage in specific activities designed to foster them.

A variety of succession options
A variety of succession options

Whichever path you go down, act now while you're still in control.

'I’ll never recommend bitcoin,' advisor insists
'I’ll never recommend bitcoin,' advisor insists

Pro-bitcoin professionals, however, say the cryptocurrency has ushered in change.

LPL raises target for advisors’ bonuses for first time in a decade
LPL raises target for advisors’ bonuses for first time in a decade

“LPL has evolved significantly over the last decade and still wants to scale up,” says one industry executive.

What do older Americans have to say about long-term care?
What do older Americans have to say about long-term care?

Survey findings from the Nationwide Retirement Institute offers pearls of planning wisdom from 60- to 65-year-olds, as well as insights into concerns.

SPONSORED The future of prospecting: Say goodbye to cold calls and hello to smart connections

Streamline your outreach with Aidentified's AI-driven solutions

SPONSORED A bumpy start to autumn but more positives ahead

This season’s market volatility: Positioning for rate relief, income growth and the AI rebound