Wall Street IT spending to rise

The conventional wisdom as of late has been that IT budgets would take a hit across Wall Street, what with the credit crunch and all. But that may not be the case at more than a few companies, according to a new survey from IBM and Securities Industry and Financial Markets Association (SIFMA). Asked to compare 2007 IT budgets with 2008 budgets, one-third of respondents suggested their 2008 budgets were higher. Of course, that means two-thirds suggest their 2008 budgets will be at the same level or lower. As for 2009, the majority of IT budgets were expected to remain at the same level or increase, easing declines from 2008. One surprise: small firms seem to be most aggressive about spending, notes Wall Street & Technology. Risk management and compliance will drive much of this increase in spending, especially in areas exposed by the credit crunch.   

For more:
- here's the Wall Street & Technology article