Sweden’s credit risk maverick
“We don’t like portfolio management,” says Björn Börjesson, executive vice-president and head of the central credit department at Svenska Handelsbanken in Stockholm.
“We don’t have quotas for different industries, or geographical areas, which I can see from your smile differs from what other banks do.” Indeed, Handelsbanken’s attitude towards modern credit risk measurement and management does differ substantially from today’s accepted conventional wisdom among Risk magazine’s readership. At this bank’s credit risk department, there are no fancy modelling packages, no sophisticated data warehouses and no credit-scoring systems. Some risk managers at competing
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