WestLB Basics

By Kim S. Nash  |  Posted 2006-08-02 Email Print this article Print
 
 
 
 
 
 
 

When encountering legal or regulatory action, technology managers who fail to get corporate data fast or vouch for its completeness can cost their companies millions of dollars. Learn what happened to WestLB, an investment bank, when it had to exhume 650,

WestLB Basics U.S. Headquarters: 1211 Ave. of the Americas, New York, NY 10036
Phone: (212) 852-6000
Business: Investment banking.
Chief Information Officer: Ken Bigelow
Financials in 2005 (for parent company, WestLB AG): $715 million in profit before taxes; $490 million net profit.
Challenge: To adhere to internal data retention policies, comply with regulatory rules for saving data, and produce documents related to lawsuits completely and in a timely manner.
BASELINE GOALS:

  • Raise the percentage of women in management positions across WestLB AG from 12% in 2005.
  • Cut personnel and operating expenses by $296 million between Jan. 1, 2006, and Dec. 31, 2007.
  • Maintain profitability achieved in 2005 by earning at least as much profit in 2006.

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    Senior Writer
    Kim_Nash@ziffdavisenterprise.com
    Kim has covered the business of technology for 14 years, doing investigative work and writing about legal issues in the industry, including Microsoft Corp.'s antitrust trial. She has won numerous awards and has a B.S. degree in journalism from Boston University.
     
     
     
     
     
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