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15 Bus. Info. Alert 1 (2003)

handle is hein.journals/busiale15 and id is 1 raw text is: The Future of Financial Services and the Information Professional by Sylvia James In the last two decades, there has been vast growth in the number of business information professionals working directly or indirectly for the financial services sector. Whether it is in the bulge bracket investment banks, the mainstream management consultants, the large accountants and lawyers with corporate practices, or private equity funds, working life for all of these information pro- fessionals has changed. We are all acutely aware of the latest turmoil, pan- ics, and scandals to hit the financial markets and the stock exchange-listed corporate sector over the last two years. Our colleagues in this sector are rightfully apprehensive about what this will mean for their future career development. These ups and downs are very much a part of the challenge of working in such dynamic sectors. But are the latest downturns more significant than those of the 1970s and 1980s? The fallout from the financial sector mergers and the subsequent severe decline in the financial markets has left many talented financial professionals jobless. Latest statistics suggest that investment banks world- wide have slashed close to 60,000 jobs since the begin- ning of 2001 (Sunday Telegraph, Business Section, October 13, 2002). Following trends has always been necessary for those who work in and around the financial services sectors in order to keep up with the innovative and entrepreneurial financial products and new services that are being offered. But do the generation of busi- ness information professionals who are now being downsized from institutions on Wall Street, in Asia, or in the City of London really know the best place to look for their next career opportunity or promotion prospects? This article summarizes many of the important trends in this vitally important sector and suggests continued on page 2 I In This Issue The Future of Financial Services and the Information Professional. . . . . . . 1 From the Editor.... . . . . . . . . 2 Calendar ...................5 News & Trends..... . . . . . . . . 6 New Sources..... . . . . . . . . . 9 Vendors . ....... ....... ..12 I