Cultural change prescribed in response to subprime losses

“Organisational culture and governance was one of the key failings in the subprime crisis,” declared James Lam, Boston-based president of risk consultancy James Lam & Associates.

On May 23, as part of a review following Jérôme Kerviel’s €4.9 billion rogue trade at Société Générale, auditing firm PricewaterhouseCoopers noted: “The general environment did not encourage the development of a strong support function able to assume the full breadth of its responsibilities in terms of transaction

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to View our subscription options

If you already have an account, please sign in here.

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here