Jesse Hamilton

As the four-star general in charge of US digital defenses, Keith Alexander warned repeatedly that the financial industry was among the likely targets of a major attack. Now he’s selling the message directly to the banks. Joining a crowded field of cyber-consultants, the former National Security Agency chief is pitching his services for as much as $1 million a month.

The audience is receptive: Under pressure from regulators, lawmakers and their customers, financial firms are pouring hundreds of millions of dollars into barriers against digital assaults. Gen Alexander, who retired in March from his dual role as head of the NSA and the US Cyber Command, has since met with the largest banking trade groups, stressing the threat from state-sponsored attacks bent on data destruction as well as hackers interested in stealing information or money.

“It would be devastating if one of our major banks was hit, because they’re so interconnected,” Gen Alexander said. Gen Alexander, 62, said he was invited to give a talk to the Securities Industry and Financial Markets Association, known as Sifma, shortly after leaving the NSA and starting his firm, IronNet Cybersecurity. He has met with other finance groups including the Consumer Bankers Association, the Financial Services Roundtable and The Clearing House.