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Risk expert Zakaria takes a top post at Merrill
Merrill Lynch has promoted its corporate head of risk management, Arshad Zakaria, to co-head its corporate and institutional client group (CICG). He will have executive responsibility for global investment banking, debt, equity and securities services…
Canada’s Royal Bank signs up to Algo Credit Evaluator
RBC Dominion Securities (RBC DS) has joined Bank One in conducting beta tests of Algorithmics' Algo Credit Evaluator (ACV), a credit evaluation tool developed by the Toronto-based risk analytics vendor.
OpenLink appoints Findur sales head
Financial and energy trading and risk management software solutions provider OpenLink International has appointed John Lister as sales manager for its Findur treasury system and suite of financial tools. Findur is a fully integrated front-through-back…
Freddie Mac names Sannini as corporate controller
Freddie Mac has made Edmond Sannini a senior vice-president and corporate controller with responsibility for the US mortgage securitisation corporation's accounting and control function.
Donation fuels Cambridge’s research ambitions
William Janeway, vice-chairman at Warburg Pincus, a leading New York private equity firm, has donated $10 million to the University of Cambridge’s Judge Institute business school. The money will fund research into the links between the risk management…
Blewitt exits creditex for BofA
Former creditex chief strategic officer Dik Blewitt has been hired by Bank of America in New York as a managing director in its structured credit products group. Blewitt will structure credit products using credit derivatives for pension funds and…
Preparing for the worst
Small and medium-sized banks in the US and Europe are bracing themselves for Basel II. Gallagher Polyn examines how these institutions plan to adapt to the new Accord.
Basel regulators cut op risk charge benchmark to 12%
BASEL - Global banking regulators formally acknowledged in late September some of the criticisms of their controversial proposal for an op risk capital charge. Their plan is to make large international banks set aside protective capital from 2005…
Basel regulators to study insurers' reaction to US attacks
BASEL - Bank regulators considering allowing op risk insurance a role in the proposed Basel II bank accord will study closely how the insurance industry deals with the massive insurance claims arising from the September 11 attacks in the US. So said…
A new role for op risk insurance
As expected, the Basel Committee on Banking Supervision said in late September that it is prepared to consider a role for insurance in reducing operational risk capital charges proposed under the Basel II bank capital adequacy accord.
Pro-cyclicality in the new Basel Accord
Could Basel II worsen recessions? By backtesting the proposed capital rules to the last recession, D. Wilson Ervin and Tom Wilde argue that the increased risk sensitivity of loan portfolio regulatory capital in the new Accord could have unwelcome…
New op risk paper gets cautious welcome, but reservations remain
BASEL - Bankers gave a cautious welcome to the further thinking of global banking regulators on their controversial plans to make internationally active banks set aside capital against op risk under the Basel II banking accord.
Banking on progress
Technology
BoNY plans to relocate data centres outside New York
WORLD TRADE CENTER AFTERMATH
New op risk paper gets cautious welcome, but reservations remain
BASLE II UPDATE
Disaster recovery experts get firms up and running
WORLD TRADE CENTER AFTERMATH
Basle regulators cut op risk charge benchmark to 12%
BASLE II UPDATE
We remember our colleagues and friends
WE REMEMBER OUR COLLEAGUES AND FRIENDS
Attacks on US demonstrate extremes of operational risk
FRONT PAGE NEWS
A new role for op risk insurance
BASLE II UPDATE
Basle regulators to study insurers' reaction to US attacks
BASLE II UPDATE
Disaster recovery -- the new Y2K?
WORLD TRADE CENTER AFTERMATH
Cantor names new executives
Cantor Fitzgerald has named new managers to its sister business eSpeed to replace those lost in the World Trade Center tragedy. The broker lost nearly 700 of its 1,000 staff in the tragedy, which has now claimed more than 6,000 lives.
Basel cuts op risk charge benchmark to 12%
Global banking regulators will base their proposed capital charge for operational risk on a 12% benchmark, down from the controversial 20% originally proposed.