News
Japan’s Resona asks for government bailout
Resona Holdings, Japan’s fifth largest banking group created by the merger of Asahi and Daiwa, has asked the Japanese government for an emergency injection of public funds, following a sharp plunge in its capital reserves. The government bailout,…
Compliance systems are key to reputational risk, says Sullivan & Cromwell's Cohen
Regulators look to the strength of a firm's compliance system when deciding how aggressively to pursue it for rule violations, according to Rodgin Cohen, chairman of law firm Sullivan & Cromwell.
Raroc pioneer now questions use of risk analytics
Dan Borge, who developed the first widely used enterprise-wide risk management system, risk-adjusted return on capital (or Raroc) while head of global research and corporate strategy at Bankers Trust in the 1970s and 1980s, now questions whether…
CRO role vital for restoring confidence to energy sector, says Kaminski
Chief risk officers (CROs) have a vital role in helping to shape the future of the troubled energy sector, and should report directly to the board of energy companies if investor confidence is to be rebuilt in the sector, Vincent Kaminski, senior vice…
International banks have stronghold in Italian derivatives market
The first survey of Italian derivatives dealers conducted by Risk Italia , the Italian language edition of Risk , found that international banks have a stronghold in the Italian derivatives market. But the results were also encouraging for Italian banks,…
Perlin to leave World Bank
Gary Perlin has announced plans to leave his job as chief financial officer of the World Bank, effective June 30, to join Virginia-based credit card giant Capital One Financial as its CFO. The World Bank said that managing director Jeffrey Goldstein will…
Barclays makes new hire for Taiwan
Barclays Capital has appointed Amy Yang as a director in its investment banking division in Hong Kong. Yang will be responsible for providing foreign exchange and liability risk management products to the Taiwan corporate sector.
Raroc pioneer now questions use of risk analytics
Dan Borge, who developed the first widely used enterprise-wide risk management system, risk-adjusted return on capital (or Raroc) while head of global research and corporate strategy at Bankers Trust in the 1970s and 1980s, now questions whether…
Risk Italia 2003: Italian covered warrants market will recover
The Italian covered warrants market will recover, despite recent falling volumes, said Marco Montanari, head of the Italian covered warrants market at SG, speaking today at Risk 's inaugural Risk Italia conference in Milan.
Kiodex adds more energy forwards curves
Kiodex, a New York-based energy risk management technology company, told delegates at an EPRM congress in Houston yesterday that it will add five new forward curves to its global market data offering.
Icap to broker economic derivatives
Icap has agreed to broker the parimutuel auction-based economic derivatives jointly developed by Deutsche Bank and Goldman Sachs, the firms announced today. Icap will offer the full range of economic derivatives, including vanilla and digital options and…
US power sector slows decline - Fitch
The US power sector has seen little more than a “deceleration in the rate of its decline” in 2003, according to Richard Hunter, managing director of rating agency Fitch’s global power group.
Compliance systems are key to reputational risk, says Sullivan & Cromwell’s Cohen
Regulators look to the strength of a firm’s compliance system when deciding how aggressively to pursue it for rule violations, according to Rodgin Cohen, chairman of law firm Sullivan & Cromwell. Cohen, a well-known legal expert in bank acquisitions,…
Risk Italia 2003: Growing proficiency in risk management allows more risk, says Cocco
Increasing proficiency by risk managers is allowing financial institutions to run more risk, according to Pierfrancesco Cocco, head of risk management at Banca Monte di Paschi di Siena. Speaking today at Risk’s inaugural Risk Italia conference in Milan,…
Citi has war chest but high standards, CFO says
Citigroup has “stored excess capital” to allow it to make acquisitions during periods when price-earnings multiples in the financial services industry are depressed, as is currently the case, according to Todd Thomson, chief financial officer at the New…
Fitch pushes for more competitive bidding after CDO credit events
Fitch Ratings is recommending that future synthetic collateralised debt obligations (CDOs) are structured with more competitive bidding processes for determination of recovery rates following credit events.
Risk Italia 2003: Banks to increasingly use securitisation for risk management
The securitisation market may be increasingly used in the future to manage the risk position of banks, said Marc Zanelli, head of the securitisation group at CSFB in Milan, speaking today at Risk’s inaugural Risk Italia conference, also in Milan.
Isda adds 4pm setting to HK$ IsdaFix
The International Swaps and Derivatives Association has included an additional fixing time of 4pm for its Hong Kong dollar IsdaFix swap rate service.
Singapore’s UOBAM manages third synthetic CDO
Singapore’s UOB Asset Management (UOBAM) has once again moved into the synthetic collateralised debt obligation (CDO) market, managing its third transaction deal in eight months. This time, Goldman Sachs is the co-arranger of the transaction with UOB,…
Enron will not centralise risk management for InternationalCo
Failed energy trader Enron plans to package together the majority of its international assets into a company known as InternationalCo, the shares of which will be distributed to its creditors. But Houston-based Enron spokesman John Ambler today told…
Industry leaders revive client-facing forex options teams
Top-tier banks are moving to set up core groups of client-facing options specialists, turning away from a previous trend to re-train all sales dealers to have derivatives expertise.
Ferc calls for risk manager vigilance
William Hederman, director of the office of market oversight and investigations (OMOI) at the US Federal Energy Regulatory Commission (Ferc), today urged energy risk managers to alert his office to any suspicious market practices.
ABN Amro delves into global OTC oil and gas derivatives
Dutch bank ABN Amro has started to offer its clients oil and gas hedging services, as part of its financial markets business, which incorporates debt capital markets, structured lending and risk management activities.
Reuters teams with Barra to offer buy-side risk analytics
Reuters, the UK information company, has teamed up with Berkeley, California-based risk management technology vendor, Barra, to integrate Reuters’ buy-side market data with Barra’s risk analytics products for the investment community.