Asia Risk 15: Kenji Fujii, Mizuho Securities

For any Japanese banker, 1995 was a memorable year in terms of risk management. In February, Baring Brothers, an underwriter of the first Japanese government debt way back in 1902, collapsed due to the actions of a single ‘rogue trader’ in Singapore Nikkei Index Futures. Then in September, Daiwa Bank, a major Japanese city bank, published its loss of $1.1 billion from US Treasury bond operation at its New York branch. It was also the victim of a ‘rogue trader’, Toshihide Iguchi, who had