MIAMI -- In 2010, The Dreyfus Corporation gave iPads to every one of its 70 salespeople, to save on Federal Express billings in shipping them marketing materials. And free up space in the trunks of their cars.
In 2012, the manager of roughly $300 billion in mutual fund assets now has decided that it should not be presenting its nine boards of directors with bulky binders any more, either.
Last week, Dreyfus delivered agenda, financial analyses and other relevant materials to the board of one of its fund groups on iPad tablet computers for the first time, chief technology officer Anthony Mayo, said at NICSA’s 30th Annual Conference and Expo.
The iPads were handed to board members, so that, as the meetig went on, directors could “easily flow through board presentations” as the meeting went on, Mayo said.
Dreyfus had its paralegals download the relevant documents and synch them across the iPads to be handed out.
But, unlike with its sales force, Dreyfus is not actually giving iPads to its board members, for security reasons.
For now, the tablets must be surrendered at the end of meetings and will not leave the premises. This is to protect against potential loss of data, given the critical nature of the presentations and material involved, Mayo said.
This will change when the company develops a reliable mechanism for wiping the contents of any iPad clean at any time and at any place, Mayo said.
The remote wiping capability would be used should an iPad fall into the wrong hands or be otherwise compromised.
Tom Steinert-Threlkeld writes for Securities Technology Monitor.