George at Forrester highlights the results of their research, that technology spend will reduce.  The relevance to Bankwatch is the data on spend by financial services.  In particular as much as we feel ‘owned’ by IBM their revenues from US are only 6% – fascinating!

Forrester: mild tech slowdown ahead

Some IT vendors focus on financial services, and could find their business mildly tightened. Tata Consultancy (TCS) gets 43% of its revenues from financial services; Infosys 34%; IBM 29% (but only 6% from US financial firms).

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The financial services sector (investment banks, regional banks, local banks, mutual fund companies, hedge funds, securities firms, credit card issuers, etc.) represents about 18% of the US IT market. The Wall Street portion (Citibank, JP Morgan Chase, Bank of America,Lehman Brothers, Goldman Sachs, et al.) is approximately a third of that, or about 6% of total U.S. IT spending. The troubled firms (Lehman, Merrill, Bear Stearns, AIG, Fannie, Freddie) represent only 2% of IT spending — this is the portion most in danger of being cut.