Brain drain: Where Cobol systems go from here

David Brown is worried. As managing director of the IT transformation group at Bank of New York Mellon, he is responsible for the health and welfare of 112,500 Cobol programs -- 343 million lines of code -- that run core banking and other operations. But many of the people who built that code base, some of which goes back to the early days of Cobol in the 1960s, will be retiring over the next several years.

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