Deutsche chair blames risk managers for lost risk control

Rise of risk managers hurt risk culture, says Paul Achleitner

paul-achleitner-2014
Paul Achleitner

The chairman of Deutsche Bank's supervisory board has blamed the rise of professional risk managers for an abdication of risk-taking responsibility by banks' front-line staff. In a keynote speech at the International Capital Market Association conference in Berlin last week, Paul Achleitner argued in favour of a more old-fashioned approach.

"In the old days, the front-line officer who was dealing with clients had direct responsibility for both revenues and risk. Alongside him or her, there was a

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