Pretty much, it may be overstating it slightly but infrastructure isn't always top of the list for company budgets, I've worked in the financial sector too, their business is pretty heavily entrenched in mainframe systems running heavily modified Cobol program, sometimes virtually I suppose but always very proprietary and incredibly flaky, punctuation can ruin a client application and hold things up for the rest of the system. You'd be astonished at just how static these industries can be.
When I was working for that financial company about four months ago the IT machines had 1gb ram and P4's, something that would have been replaced and scrapped as part of a five year renewal program by the University I worked at seven years ago. Law is reasonably progressive, we use decent machines and there's an appreciation for technology as a tool to enable productivity, clients just aren't always as forward looking. Then you have the clients who jump on new-ish tech like drop box, if you've never used drop box to share sensitive data don't do it, their security sucks.
