It’s been quite a year for the financial services industry, which was hit by multi-million dollar hack attacks as well as spectacularly disastrous technology failures. We took a look at the most costly industry mishaps in our top galleries of 2012, while also shining the spotlight on some of the biggest mistakes CIOs make. But there is light at the end of the tunnel for chief technology officers: our recent salary survey showed that IT skills remain in short supply on Wall Street. So for those looking to recruit new talent -- or join the industry -- we took a look at Wall Street’s top technology schools.
December 28, 2012
2. The 12 Most Spectacular Financial Services Failures of All Time
As a result of its spectacular technology fail on August 1, Knight Capital became the latest in a long list of financial services firms – from Barings to Long-Term Capital Management to have been either pushed to the brink of collapse or permanently wiped out.
Ed’s Note: 2012 was the year of technology fiascos: from Nasdaq botching Facebook’s IPO to BATS messing up its own and Knight’s errant algo, the flurry of major tech mishaps reignited the debate on high-frequency trading and spurred the SEC to hold a meeting to try and improve the stability of the markets.
[Check out the gallery here.]
