SunGard CEO forecasts another tough year for financial IT

SunGard CEO forecasts another tough year for financial IT

SunGard CEO Cris Conde is forecasting another tough year in the financial IT markets, as sales cycles show no signs of shortening and deflationary pressures continue to hamper pricing.

In an interview with Bloomberg TV, Conde says the firm - which has added 3500 staff since he market bottom in 2009 - will continue to hire quality talent, despite the uncertain economic environment. Much of the new intake will come with specialised skills in risk management and compliance - described by Conde as a "red-hot" jobs market.

"We expect to continue to be hiring on the basis of competitive market share wins," he says. "We're taking market share, so to support that growth, we need to hire."

Nonetheless, Conde sees little sign of the clouds lifting over the financial IT market.

"To me, the two characteristics of a better market start out with a shortening of sales cycles and producers having some kind of pricing control. Neither of those two factors exist right now.

"We've been through a tough year and I think it's going to be another tough year coming up."

SunGard's Conde sees tough year; will continue hiring

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