HP, RIM take flak from nervous financial industry customers

Thu Dec 6, 2012 5:47pm EST
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* BlackRock CIO frets about Hewlett-Packard management

* JPMorgan says vendors present "execution risk"

* Blackberry a good product but parent is faltering - BlackRock

By Jed Horowitz

NEW YORK, Dec 6 (Reuters) - JPMorgan Chase & Co and BlackRock Inc voiced concerns about Hewlett-Packard Co and Research In Motion Ltd this week, saying business and operational struggles may affect the reliability of two of the biggest technology service providers.

"We are concerned about some of the players that we have relied on to provide material services and equipment," Scott Condron, chief technology officer of asset management giant BlackRock, said at an information technology conference in New York sponsored by Waters magazine.

Hewlett-Packard is BlackRock's preferred provider for its server farms and a major vendor for its personal computers.

"I like their equipment and I would like them to continue being a supplier, but I need them to be a better company," Condron said in an interview.

Richard Anfang, chief information officer at JPMorgan Chase's securities services division, also referenced HP's problems as a risk factor banks should consider in dealing with suppliers.   Continued...