Coulter considers risk concentration
In a wide-ranging speech at the International Swaps and Derivatives Association annual meeting in Chicago at the end of March, the vice-chairman of JP Morgan Chase, David Coulter, considered why there were continuing questions raised over the role of derivatives and the risks associated with them when “this is a world where risk management tools are needed more than ever, and one that is well-suited for the sensible application of derivatives”.
The following is an edited extract from his speech:
“Probably one of the biggest questions around systemic risk is the issue of participant exit. Does the
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