The asset management industry relies on a complex web of service providers, creating layered outsourcing models that include fourth-party vendors. The 2025 ICI Operational Resiliency Exercise, hosted by Charles Schwab, tested industry response to a fourth-party outage at AlphaPrime Trust caused by CoreDataX. The simulation engaged 42 firms to address cascading risks from complex outsourcing and strengthen resilience beyond cybersecurity.
The asset management industry faces an escalating battle against cybercriminals employing increasingly sophisticated tactics. From state-sponsored attacks to ransomware-as-a-service (RaaS) platforms...
