How much data do you actually encrypt? In the neighborhood of 30TB per week, including full and incremental backups.

How have the regulators reacted to the decision to encrypt your data? The feedback we've received from [them] is that they're thrilled about it. So we're thrilled about that.

What other types of challenges are you facing? In the storage world in particular, it's this whole idea of a formal and automated approach to the whole information life cycle management. We have very-well-understood retention rules, but it's too manual. As we acquire companies and the obligations of those firms become our obligations -- client data, client e-mails -- that's probably one of the biggest hurdles we have to address. We're just starting to put together a strategy to address it.

I think we have a good approach to rationalizing storage around our applications, which is important. It's a big spend. But now it's really around the overall data management [and] retention because of the industry we're in. I'd like to reduce the amount of manual effort associated with that.

What do you mean by manual effort? I'm talking in terms of lacking an automated way to determine that this set of data has these retention properties and when you reach five years, for example, [tape archiving] just happens. I'm thinking about making our staff more efficient around the decision-making around when and what moves, not so much about "You've got to go move this to that." We can have operations staff do that. But I'm sure we have data sitting there in near- or real-time accessibility that doesn't need to be. It could be moved off to tape.