HANGZHOU (Nov 3, 2009) – The global financial crises has sped up the worldwide transfer of financial services outsourcing and provided rare opportunities for China’s development in the financial services industry. On October 19, the annual International Conference on Information Technology for Financial Services (ICITFS), jointly hosted by the Hangzhou government, Zhejiang University, State Street and Insigma Technology, took place at Zhejiang University. Guili Tong, the Deputy Mayor of Hangzhou, attended the conference and made opening remarks. 

Attending the event were more than 40 senior officers and experts of dozens of well-known international financial services and IT enterprises including IBM, Sun Microsystems, Symantec and Schooner and Broadridge. The experts came together to deliberate commercial and technological strategies for China’s financial outsourcing industry development and building an international financial service center in the tide of global industrial restructuring and financial services transfer. 

Maureen Miskovic, chief risk officer of STT, delivered the keynote speech on the risk control and management in American financial market. STT’s chief information officer, Christopher Perretta, showed STT Global Center’s successful model of best practice jointly developed by Hangzhou and Boston teams. Tianxi Wang, IBM’s Vice President of Greater China, John R. Busch, president and CEO of Schooner, and Bob Frankston, known as the father of the electronic spreadsheet, introduced the latest developments and advances in financial and IT fields such as cloud computing strategy. 

The forum also invited senior experts and scholars from the financial circle including Zaiyue Xu, vice president of China Foreign Exchange Center, Yu Li, executive dean of Shanghai Finance University International Finance Institute, and Dapeng Li, CTO of SHFE, to discuss the potential and policy trend of development of China’s financial services industry.