The Evolution of Ken Thompson

Charlotte.com on November 20, 2005

Wachovia Corp. Chairman Ken Thompson's path from offshoring skeptic to offshoring believer is reflective of many executives' views. Thompson was originally hesitant to join the offshoring bandwagon, preferring to watch how it affected his competition. As his competitors reaped big savings, Thompson began the harsh cost-cutting and job-cutting that would allow Wachovia to grow through offshoring. Wachovia is far from alone in its push overseas, and financial institutions all over the U.S. are finding that sending their IT work offshore is boosting their bottom lines. Thompson thinks that is a very good thing — for all parties involved. Thompson, having seen first-hand the impact that offshoring is having on India, feels that globalization is good for everyone and that the free trade of IT and financial services should be a large part of that globalization effort. According to this article, Thompson even believes that the benefits of offshoring could help counter terrorist activities in the third-world countries where IT and call center work is being sent.