Fitch sets up risk management subsidiary

The agency has also entered into an agreement with Loan Pricing Corporation (LPC), a Reuters company that provides global news and data on syndicated commercial loans, to market LPC's services to institutions through FRM.Fitch said FRM has been created in response to growing demand for risk management services among financial institutions. As well as marketing LPC's risk management products, LPC Risk Rater and LPC Loan Loss database, FRM will act as a development platform for a range of risk management products incorporating credit, portfolio and operational risk methodologies. Fitch also plans to utilise Loan Connector, LPC's internet-based distribution platform, as a product marketing and distribution channel.

"As all types of financial insitutions face new challenges in assessing risk in response to Basel II, we believe Fitch Risk Management will be a sound alternative for our clients, and forward the intention of Basel by providing incremental sources and methods for measuring risk," said Gloria Aviotti, group managing director of the newly formed FRM unit.

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