Financial institutions will increase information technology spending 2.9% in 2010, after cutting budgets by 2.5% in 2009, according to research and consulting firm Celent.

The greatest growth in financial IT spending this year will be in Asia-Pacific, the firm predicts, with expenditures rising 5.1% and a cumulative average growth rate of 6.2% from 2010 to 2012. In 2012, Asian firms will spend nearly $102 billion on IT spending.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.