There’s a new notion about hedge fund cyber security that’s sweeping through the industry and it’s coming, like so many other changes, from investors. Investors are telling managers they don’t care whether a firm has 16 people sitting in an office in New York or 500 people worldwide – they want the same level of cyber security as can be found at a large corporation.
Art Murphy, director of client development at US software provider Abacus Group, says since the beginning of 2013 he has been brought onto more due diligence calls with the most common questions covering: network security; intruder detection; disaster recovery; and data protection. “Investors are nervous about new technology like Dropbox being used.”
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