US: Operational risk managers face merger challenges


Taking rash decisions in times of stress or excitement is human nature. As individuals we have all done it: throwing caution to the wind in the midst of crisis, only then to ponder the risks taken and later, potentially, having to pick up the pieces. And so it has been for some of the biggest US banks in the past year. Firms with reputations built on decades of sustained growth and decision-making sobriety have gambled away fortunes on weekend mergers and acquisitions (M&A) during the pas