Exceptional operational risks: Three myths debunked

Table 1 lists a dozen cases of banking, broking and asset management institutions that have been greatly affected by operational losses over the past 12 years. Ten of these went bankrupt, were taken over or were forced to merge as a consequence of their losses. It cannot be said that these are the most significant operational losses recorded over the period without entering into a debate on ranking criteria (for example, how to account for the impact of the loss, the size of the company, the