Fitch buys Algorithmics -- In mid-December, Fitch announced that it is to acquire Algorithmics, an enterprise risk management software firm based in Toronto, Canada. The $175 million transaction is expected to close in January 2005. Algorithmics is a privately held company founded in 1989, while Fitch is a New York-based credit rating agency, with a risk management software subsidiary, FitchRisk. Stephen Joynt, president and chief executive officer of Fitch, added: "Together, Fitch and

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Investment banks: the future of risk control

This survey report explores the current state of risk controls in investment banks, the challenges of effective engagement across the three lines of defence, and the opportunity to develop a more dynamic approach to first-line risk control

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