Expected IT cost savings following a merger or acquisition take much longer to realise than most financial institutions expect, according to a survey conducted by Hitachi Data Systems, the data storage company.

Of 100 IT directors in the UK financial sector surveyed, 80% said cost savings from the consolidation of IT after a merger seldom materialised as quickly as they expected. Moreover, 75% warned that additional short-term IT investment was typically required before any cost savings could be realised.