Episode 13
July 25th 2024
Show Summary
Tania Neild interviews BlackCloak, Abacus and Copia about keeping the family and the office secure. The discussion introduces these companies and their services, and focuses on the impact and future implications of the 7/19 CrowdStrike incident on cybersecurity practices for family offices. Topics include:
- Changes in the security stack post-incident
- Strategies for protecting client endpoints and evaluating EDR tools
- Mitigating single points of failure in security tools
- Maintaining robust security for remote users and cloud servers
- Expected changes in client due diligence processes
- Client communication practices during such events
→ Read summary of key insights from the program.
About the Moderator
Tania Neild, CTO & Owner, InfoGrate
Dr. Neild began her career as an applied scientist for the National Security Agency, which awarded her the National Physical Sciences Consortium Award to fund her research in heterogeneous database integration. She earned a PhD in computer engineering and a Bachelor’s degree in mathematics and computer sciences.
-
Read more
Dr. Neild’s extensive deployment experience enables her to consult on complex issues such as crossing applications for general ledger systems, analyzing security master attributes, modeling or tracking relationships, and managing tax or partnership accounting. She has deep domain expertise with the design, customization, and implementation of new technologies and services to align strategic business objectives with tactical requirements, including compliance, disaster recovery, file management, security checks, and vulnerability assessments.
In addition to her work at InfoGrate, Dr. Neild has worked with boutique application service providers. As the CTO and COO of Private Client Resources, she built the technology and the team to implement, operate and service the aggregation, reconciliation and reporting platform. Under her oversight, PCR grew from a family wealth management prototype into a fully operational reporting system that tracked more than $6 billion in assets for over 300 families. While serving as the CTO and Managing Director of EnvestNet Asset Management, Dr. Neild built a separately managed account platform recognized by Forbes in 2001 as “Best of the Web.” Co-founded by Dr. Neild, EnvestNet went public in the fall of 2010.
Dr. Neild’s exceptional technical skills in distributed data integration and real-time data management result from 15 years of academic and professional applied research. Dr. Neild began her career as an applied scientist for the National Security Agency, which awarded her the prestigious National Physical Sciences Consortium Award to fund her research in heterogeneous database integration. She earned a PhD in computer engineering from Northwestern University and a Bachelor’s degree in mathematics and computer sciences from Emory University.
About BlackCloak
Represented by Dr. Chis Pierson, CEO, BlackCloak
BlackCloak protects corporate executives and high-profile individuals from cybersecurity, privacy, financial, and other reputation risks. The BlackCloak Concierge Cybersecurity & Privacy™ Platform is a holistic solution including mobile and desktop apps as well as concierge support. Executives and high-profile individuals get peace of mind knowing their family, reputation, and finances are secured. Companies rest assured that their brand, intellectual property, data, and finances are protected against threats coming through executives without having to invade their personal lives.
-
About Dr. Chis Pierson
Prior to BlackCloak, Chris served for over a decade on the Department of Homeland Security’s Privacy Committee and Cybersecurity Subcommittee, and is a Distinguished Fellow of the Ponemon Institute. He has also held leadership roles as the Chief Privacy Officer for Royal Bank of Scotland, the world’s 3rd largest bank, leading its US privacy and data protection program; as the Chief Information Security Officer for two FinTechs, and as President of the Federal Bureau of Investigation’s Arizona InfraGard.
Previously, Chris was a founding executive of Viewpost, a FinTech payments company, serving as their CISO and General Counsel. Chris began his career as a corporate attorney for Lewis and Roca, where he established its CyberSecurity Practice representing companies who were hacked and fell victim to data breaches.
Chris received his B.A. and M.A. from Boston College and his Ph.D. and J.D. from the University of Iowa.
About Abacus
Represented by Paul Ponzeka, CTO, Abacus Group
Abacus Group is a global managed IT and Cybersecurity service provider with specialized cloud, compliance and IT-as-a-Service offerings built specifically for the financial services industry. The innovative and award-winning abacusFlex platform provides financial services firms with a one-stop-shop of IT and security solutions and the ability to scale securely and compliantly as needs evolve.
-
About Paul Ponzeka
Paul Ponzeka is the Chief Technology Officer at Abacus Group, responsible for R&D, systems engineering, disaster recovery and networking. Before joining Abacus in 2012, he was head of engineering for Davidson Kempner Capital Management. Prior to Davidson Kempner, he was a senior engineer at Eze Castle Integration, responsible for high-level VMWare and SAN implementations, as well as serving as the company’s senior messaging expert. Paul earned a BS in Operations Management at the University of Scranton and is CISSP-certified.
About Copia
Represented by Michael Sikorsky, CEO, Copia Wealth Studios & Chairman of Sky and Ray Family Office
Copia Wealth Studios is a platform that offers real-time portfolio management, allowing users to oversee their wealth across various asset classes, including alternatives like real estate and venture capital, as well as cash and other liquid assets. The service is designed to enhance asset management, termed as "Assets Under Intelligence™," and caters to a diverse clientele. The Copia team boasts a strong background, with achievements such as creating global #1 applications, building Deloitte Fast 500 companies, winning National Entrepreneur of the Year awards, launching successful challenger banks, and developing software for numerous complex enterprises.
-
About Michael Sikorsky
Michael Sikorsky (@mjsikorsky) is an EY Entrepreneur of the Year Winner, Deloitte Fast 500 Recipient His current company, Copia Wealth Studios, is a wealth operating system for modern allocators. It was founded in 2021 after discovering that existing solutions don't solve for the wealth owner after the establishment of his own Family Office.
00:05 - Introductions
06:34 - Chris Pierson and BlackCloak overview
09:13 - Michael Sikorsky and Copia overview
11:41 - Paul Ponzeka and Abacus overview
14:00 - Explanation of EDR (Endpoint Detection and Response) tools and their role in cybersecurity. Comparison with traditional antivirus software
19:11 - What happened with the CrowdStrike incident? Strategies for protecting client endpoints; diversifying security tools to mitigate single points of failure
26:20 - Implications of the CrowdStrike incident for family offices; Importance of multi-layered defense approach, including EDR, MFA, and email security; prioritizing prevention, backup, business continuity and rapid recovery plans
33:00 - Sentinel One vs CrowdStrike
39:51 - Recommendations for how family offices should handle communication during incidents
47:46 - Balancing the urgency of releasing security patches with the risk of issues like the CrowdStrike incident
50:14 - Some of the most common attacks targeting wealthy individuals and family offices (scams, fraud, malware infections, account compromises, etc)