Prudential continues with Horizon software
NEW YORK – Prudential, the New York-based insurance giant, has decided to continue using the Horizon software package, and will be purchasing the source code for the self-assessment programme, according to Mario Mosse, vice-president, risk management at Prudential. The move comes after Horizon clients received letters from JP Morgan Chase in the late spring saying the firm would no longer be supporting the product.
The move by JP Morgan – allegedly made because president and chief operating officer James Dimon decided that the product was not within the range of offerings the firm considered to be "core competencies" – angered many in the industry that had specifically selected the product because the JP Morgan Chase name was behind it. One Europe-based operational risk executive says: "This incident has
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