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November 8, 2012
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News for operations and technology executives in financial services

  Top Story 
How Much Do You Really Need to Make? The Answer May Shock You
Rather than focus on what you can afford to pull out of the business to cover your living expenses, you need to focus on how much you need to earn at your business in order to afford the lifestyle you want to have. This is where the Personal Earnings Goal, or PEG, comes into play. Learn how to calculate your PEG and find out how much you really need to make.

  Operations Update 
 
  • Regulations prompt asset managers to do more outsourcing
    Asset managers are expected to increasingly outsource their business amid a changing regulatory landscape that includes the Dodd-Frank Act in the U.S. and the European Markets Infrastructure Regulation. The shift is expected to increase revenue more than 40% for companies that provide outsourcing, according to Aite Group. The Trade News (U.K.) (11/6) LinkedInFacebookTwitterEmail this Story
  • Third-party business process outsourcing gets a close look
    Motivated by the realities of the business environment after the financial crisis, Wall Street banks and other financial firms are carefully considering whether some functions of their businesses could be better run by partners. Financial organizations aim to streamline operations and cut costs by shifting noncore processes to third-party business outsourcing providers. Wall Street & Technology (11/7) LinkedInFacebookTwitterEmail this Story
  • Other News
Building Workplace Trust 2015
Interaction Associates' 6th annual research study tracking trust on the job, Building Workplace Trust, is out, and more than half of employees surveyed give their organizations low marks for trust and leadership. Yet this year's findings again point to how high trust leads to better outcomes and financial results — and even boosts innovation.

  Technology Update 
 
  • Banks replace credit-derivatives traders with machines
    Credit-derivatives traders are finding themselves out of work as banks are replacing them with machines that use algorithms. The banks win in two ways: The machines reduce costs significantly, and make compliance with new regulations easier, Mary Childs writes. Bloomberg (11/6) LinkedInFacebookTwitterEmail this Story
  • Data crunchers drove Obama's re-election bid
    Data crunchers were at the heart of President Obama's successful re-election bid, gathering, sorting and analyzing a wide range of demographic and other information to effectively target different donor market segments. The combination of data and formulas proved highly effective in a close-to-the-vest, two-year operation. "They are our nuclear codes," campaign spokesman Ben LaBolt says of the effort. TIME (subscription required) (11/7) LinkedInFacebookTwitterEmail this Story
  • NYC uses open data to help residents cope with Sandy
      
    New York City used location data to help residents deal with the effects of superstorm Sandy. The effort, using the Open Data platform as part of the city's Digital Road Map initiative, blended geographic information systems with social media and other tools to keep city residents aware of the storm. The city launched a Hurricane Evacuation Map and a Hurricane Evacuation Zone Finder to help residents tell if they would need to relocate because of flood risks. "New York City's Digital Road Map: Progress and Innovation demonstrates the strides we have made to date, propelled by a vibrant technology industry, a strong social media presence, infrastructure improvements, and historic investments in education," New York Mayor Michael Bloomberg said. SmartBrief/SmartBlog on Leadership (10/31) LinkedInFacebookTwitterEmail this Story

Experience the Benefits of Consolidation
Learn how you can enhance your level of client service and simplify your day-to-day activities by transferring your clients' existing directly held mutual fund positions, 529 plan accounts, annuity policy information and other outside assets into a brokerage account on the Pershing platform. Learn more.
  SIFMA News 
  • SIFMA's LEI Seminar, Implementing a Global LEI Framework -- Dec. 11 -- NYC
    In partnership with our global affiliate GFMA, SIFMA is pleased to present the "Implementing a Global LEI Framework -- Ready. Set. Go." The symposium will address current global policy as well as regulation and business implementation issues facing the financial services industry, as we prepare to stand up the Financial Stability Board's LEI infrastructure and use of CICI legal-entity identifiers for regulatory reporting to the CFTC. We will also examine the impact of these changes on your business. Prepare your firm by attending this important event. LinkedInFacebookTwitterEmail this Story
  • SIFMA FATCA Symposium -- Nov. 19 -- New York City
    Once the rules implementing the Foreign Account Tax Compliance Act (FATCA) become effective, the 2010 law will fundamentally alter the relationships financial firms maintain with their clients and each other. Join us for SIFMA's FATCA Symposium, where key regulators, industry leaders and tax experts will offer an in-depth analysis of the latest published guidance and provide practical insights as to how to best comply with and implement the regulations within your organization. LinkedInFacebookTwitterEmail this Story
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