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For 2008 we have also joined in partnership with business information suppliers Bureau van Dijk to increase the amount of information available to include turnover figures, a synopsis of the corporate history and details of their main product line. This information is sourced from Fame a comprehensive database of company accounts, activities, ownership and management structures of 2.6 million UK and Irish companies.
Financial services
Recent events could increase the pace of consolidation in both High Street and investment banking, which in turn will lead to financial services CIOs working on increasingly difficult integration projects. As greater transparency is required some CIOs are looking to service-oriented architecture (SOA). Large established organisations are replacing legacy systems despite the economic downturn.
3. Royal Bank of Scotland Group
The Royal Bank of Scotland has maintained its position near the top of the CIO 100 ranking during the past year despite these trying economic times.
9. Lloyds TSB Group
Lloyds TSB is set to merge with HBOS to create a banking giant as the financial sector faces difficulties following on from the collapse of Leman Brothers in the US. The merger, which the government is likely to approve will create wide ranging redundancies. Perhaps by virtue of its size and having only the UK as its key market, making it the fifth largest banking group in the UK, Lloyds TSB Group has felt comparatively less growth pains in the midst of increasing global economic instability. With revenues of £16.9 billion last year, it still registered a balance-sheet item termed a "revaluation reserve reduction" of £740 million that was bigger than the £667 million sub-prime related losses charged against profit.
10. HBOS
HBOS is set to merge with Lloyds TSB to create a banking giant as the financial sector faces difficulties following on from the collapse of Leman Brothers in the US. The merger, which the government is likely to approve will create wide ranging redundancies Just before news of the merger leaked, HBOS said in its most recent trading update that, while it has not been immune to the wider economic and credit conditions, the UK's largest mortgage and savings provider was on track to demonstrate a “resilient performance in 2008”. Not bad for a bank in its tenth year as a listed company.
16. HSBC
With assets of some $2,354 billion (£1,283 billion) at 31 December 2007, HSBC Holdings is Europe’s biggest bank by market value. Serving over 128 million customers worldwide through around 10,000 offices in 83 countries, it is not surprising it has felt the affects of the seismic shifts in the global economy that have affected so many of the other financial services companies featured in this year’s CIO 100 listing.
18. Barclays
Barclays is one of the ‘big four’ UK financial services providers, with retail, commercial and investment banking, credit cards and wealth and investment management businesses, serving 30 million customers in over 50 countries.
19. Deloitte & Touche LLP
For financial services firm Deloitte it has been a year in IT of continuation. The partnership said: “In terms of changes to business IT strategy it was mainly a continuation of the projects identified in 2007 - for example the completion of VoIP, completing the roll out of Document Management, and working on the green agenda.”
31. Reuters
No sooner had the information services company, Reuters announced the results of a successful three-year business recovery programme, than it had new challenges to keep it busy. In May 2007, UK-based Reuters agreed to merge with one of the world’s largest information companies, the Thomson Corporation in a deal valued at $17.2 billion (£8.7 billion). Canadian firm, Thomson now controls about 53 per cent of the new company, named Thomson Reuters.
34. KPMG LLP
Consultancy KPMG is in the middle of establishing a combined limited liability partnership which will run across Europe. This is leading to major software upgrades which the firm is focusing on SAP and Microsoft.
48. Aviva
With a history stretching back over 300 years, today Aviva has 45 million customers in 27 countries, making it the world’s fifth largest insurance group and the largest in the UK. Trading under brands including Norwich Union and RAC brands in the UK, the company has seen its life, savings and investment sales fall in recent months.
52. Nationwide Building Society
Nationwide is the world’s largest building society and in August 2007 it got a little larger when it completed the acquisition of Portman Building Society. The enlarged society has over 900 retail outlets and around 14 million members. The last set of accounts showed it had underlying total revenue from retail and other sectors of £2.2bn and underlying profit before tax up 17 per cent to £781.1 million.
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