Risk Awards dinner raises $160,000 for WTC appeal fund

Risk magazine’s Awards dinner raised more than $160,000, according to the initial count, for Risk magazine’s World Trade Center appeal fund. The dinner, held last night in the Regent Hotel, Wall Street, featured the presentation of the annual Risk Awards for excellence and a charity raffle and auction.

In a busy night, Dominic Chianese, television actor renowned for his portrayal as Uncle Junior in 'The Sopranos' was compere for the raffle, while Guy Bennett, vice-president for impressionist and modern art at Christie’s, hosted the auction.

Don Wilson, co-head of credit and interest rate business at JP Morgan Chase, who accepted Risk’s award for derivatives house, interest rates derivatives house and credit derivatives house of the year, reflected the evening’s mix of remembrance and optimism. “As an institution we are proud to be here to help honour the people who died on September 11,” he said. “JP Morgan is also honoured to gather this evening in the company of other leaders of the industry."

Wilson said for the past twenty-plus years the derivatives industry has enjoyed double-digit growth, and he expected this trend to continue. "But to ensure that [growth] we have to redouble our efforts to educate each and every constituent in the market – the creditors, investors, analysts, regulatory bodies, rating agencies, financial press and the general public."

Wilson said the challenge was to explain the complexity of derivatives in simple terms to ensure people understand the utility of the products.

"I think we can do it, and if we can, this industry will continue to be the driver of innovation in the financial markets and the core of the money business," Wilson added.

Details of how to donate to Risk’s World Trade Center appeal fund can be found at www.riskwaters.com/wtcappeal.