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 2025 InvestmentNews Awards Excellence Awardees revealed
The 2025 InvestmentNews Awards Excellence Awardees revealed

From outstanding individuals to innovative organizations, find out who made the final shortlist for top honors at the IN awards, now in its second year.

Top RIA Cresset warns of 'inevitable' recession amid tariff uncertainty
Top RIA Cresset warns of 'inevitable' recession amid tariff uncertainty

Cresset's Susie Cranston is expecting an economic recession, but says her $65 billion RIA sees "great opportunity" to keep investing in a down market.

Edward Jones joins the crowd to sell more alternative investments
Edward Jones joins the crowd to sell more alternative investments

“There’s a big pull to alternative investments right now because of volatility of the stock market,” Kevin Gannon, CEO of Robert A. Stanger & Co., said.

Record RIA M&A activity marks strong start to 2025
Record RIA M&A activity marks strong start to 2025

Sellers shift focus: It's not about succession anymore.

IB+ Data Hub offers strategic edge for U.S. wealth advisors and RIAs advising business clients
IB+ Data Hub offers strategic edge for U.S. wealth advisors and RIAs advising business clients

Platform being adopted by independent-minded advisors who see insurance as a core pillar of their business.

SPONSORED Compliance in real time: Technology's expanding role in RIA oversight

RIAs face rising regulatory pressure in 2025. Forward-looking firms are responding with embedded technology, not more paperwork.

SPONSORED Advisory firms confront crossroads amid historic wealth transfer

As inheritances are set to reshape client portfolios and next-gen heirs demand digital-first experiences, firms are retooling their wealth tech stacks and succession models in real time.