2004 was the year when life and pensions risk management came to the fore (Risk December 2004, page 50). While many investment banks sought to play up their expertise in this area, offering gimmicks such as longevity bonds, one house was reaping the benefits of past investment in this area of business. For demonstrating its leadership in advice and execution in this hot area of risk management, UBS wins the 2005 Interest Rate House of the Year award.
Key to UBS’s leadership was its highly
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