March 2005

FROM THE EDITOR The New Investment Manager Investment managers are becoming more sophisticated in the technology they use and the services they offer. UP FRONT --Regulators in the Driver's Seat --Support Needed --Security Is Top of Mind Dear CIO... Question: Is Lehman Brothers offering pre-trade analytics and/or algorithmic trading to its buy-side clients? If so, what are the technology challenges and the benefits associated with these offerings? Cover Story Custom-Built The demand for separately managed accounts is fueling the financial industry's interest in portfolio manufacturing technology. Wealth managers that automate and implement customized portfolios with assembly-line efficiency are bound to profit from the trend. Focus On IT Portfolio Prowess Investment managers aren't the only ones who need to manage portfolios. Now, the CIO does, too. IT Projects Require More Than Just Management Before a firm can manage a project portfolio, it must manage individual projects effectively.

Business Lines: Cashing In on Retirement Fidelity taps a booming market of retirees with its latest retirement-services package. Making Monte Carlo Work A recent NASD rule change gives brokers at Commonwealth Financial Network a new tool to add in their investment analysis arsenal. A Watchdog to Watch No longer neglected or rudderless, the SEC and CIO Corey Booth plan to make great strides to reshape its IT culture. Hedge Fund Services Heat Up Prime brokers, fund administrators and technology providers are all targeting hedge funds with increased services offerings. Blend It In - But Not Too Much ING COO Catherine Smith hopes a little business discipline will improve the IT organization's efficiency. CIO Challenge VoIP Managing traditional analog hoot-n-holler networks, which are critical to investment management firms' operations, can be expensive and challenging, so many CIOs are eyeing alternatives. For some, the answer is IP telephony. Industry Voice Beyond EAI During the past few years, the financial-services industry invested significant resources in implementing enterprise application integration (EAI) technology solutions to foster real-time connectivity of applications and sharing of information among internal enterprise systems as well as with external partners' systems. Product Watch --Nexa Launches Black-Box System --PAETEC Pushes IP Technology --Portfolio Analysis Goes 3-D Shifting Gears -- People & Careers --Whalen Named CIO of RJO --Lee Establishes Aite Group --Deloitte Appoints AML Authority --Keeping Tabs Perspectives: The NYSE Floor: A Question of Control What is it about the floor - the history, the frenzy, the money, the legacy?