Historically, the IT industry has been mostly a reactive unit. Enterprise IT departments were essentially order-takers that were quick to adopt the latest programs. Stephen Hilton, managing director and CIO of technology infrastructure for Credit Suisse, will have none of that. Known for his stick-to-itiveness and indifference to flavor-of-the-week technology, Hilton has shown leadership in building a unified culture and developed a reputation for his steady pace of improvement.

As most Industry leaders know, since 2007 capital markets revenues have decreased rapidly, resulting in budget cuts across the board. At the same time, most financial institutions had built up significant fixed costs during the prior decade when revenues were high and budgets were bloated. "People were surprised that IT was not as variable as they thought it would be," says Hilton, whose firm has a market capitalization of $42 billion and $1.3 trillion in assets under management. Read full story on Wall Street & Technology

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