People
European demand for op risk talent set to surge in 2003
IMPLEMENTATION OUTLOOK
Mercer snaps up Oliver, Wyman
New angles
Technology briefs
Systems
Gold hedging loses its lustre
Cover story
Modelling the unthinkable
Insurance special – Terrorism insurance
RiskNews review
RiskNews review
Tailoring internal models
Insurance special – Risk models
Washington Mutual hires Amex CRO
Washington Mutual, the Seattle-based retail bank, has hired Steve Lobo as the company's senior vice-president and treasurer. Lobo, previously the risk watchdog at American Express, will be responsible for enterprise-wide treasury management functions,…
CLS settles a trillion a day
NEW YORK — Continuous Linked Settlement, the new settlement service for foreign exchange, settled a record $1 trillion in FX payments on February 18.
Trichet still best bet for ECB job
Jean-Claude Trichet's trial is not an insurmountable obstacle to his accession to ECB presidency. But while the outcome is uncertain, French officials must come up with a back-up candidate, says Stephen Sandelius, Paris correspondent for Market News…
US options broker lures Feinberg from CIBC
New York-headquartered Israel A Englander, the largest options broker in the US, has hired Peter Feinberg as executive vice-president.
Mercer snaps up Oliver Wyman
Mercer, a consulting division of New York-listed Marsh & McLennan, has bought specialist risk management and financial service practice consultants Oliver Wyman & Company for an undisclosed sum.
Board of Trade Clearing Corporation elects three board members
The Board of Trade Clearing Corporation (BOTCC), based in Delaware, has re-elected two members and elected a new member to its board of governors.
Mercer snaps up Oliver Wyman
Mercer, a consulting division of New York-listed Marsh & McLennan, has bought specialist risk management and financial service practice consultants Oliver Wyman & Company for an undisclosed sum.
Merrill hires forex derivatives marketer
Jim Crimmins will join Merrill Lynch in New York early in March as a senior foreign exchange and interest rates derivatives marketer. This is a new position, which will "add strength" to the team, said a spokesperson at the bank in New York.
Reuters plans to tackle Bloomberg in fixed income
Jon Robson, the new head of Reuters’ fixed-income business and former chief executive of Moneyline Telerate, plans to apply his strategy at Moneyline to Reuters in a bid to diminish rival Bloomberg’s share the market.
Ex-Aquila weather traders find new jobs
Ravi Nathan, formerly head of weather trading at Missouri-based energy company Aquila, is to join insurance firm ACE, heading its weather risk management division out of its Philadelphia office. Meanwhile, six of his former Aquila colleagues are set to…
JP Morgan restructures equities business
JP Morgan Chase has restructured its global equities business by moving Carlos Hernandez, previously head of global equity capital and derivatives markets, to head North American equity capital markets.
Standing to leave JP Morgan
Rob Standing, London-based head of JP Morgan Chase's interest rates business, is to leave the firm to join London Diversified Fund, a $1 billion fixed-income hedge fund he set up while at Chase Manhattan in 1995.
Continuous-linked settlement: Extending to Asia
Continuous-linked settlement – the initiative designed to eliminate forex settlement risk – went live at the end of last year. But with only Australia and Japan represented in the first batch of currencies, what will CLS mean for Asia’s banks?
Waiting for guidance
South Korea's banks have made huge strides in implementing risk management systems over the past few years, but Basel II is not yet a driving force, with banks waiting for the Korean regulator to publish local guidelines.
Patsystems names two non-executive directors
UK electronic trading software company, patsystems, today named Stewart Millman as non-executive chairman and Richard Last as a non-executive director.
GE ERC names Narvell as new global chief actuary
GE's Employers Reinsurance Corporation (GE ERC) has lured John Narvell from XL Winterthur International as its global chief actuary.