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Commodity Risk: 5 Lies Corporates Tell Themselves

As volatility roils the commodity markets, corporations face difficult decisions in managing financial risk. For many, achieving long-term success requires dispelling misconceptions and facing...

July 1, 2022 | By Bryant Lee


The Stagflation Challenge: How to Future-Proof Liquidity Risk

Cash is king. This may be a cliché, but it also happens to be true. If your balance sheet is bulging with greenbacks, it’s almost impossible to default. By contrast, you can have capital buffers in...

June 24, 2022 | By Alla Gil


Modern Modeling: The Elusiveness of Forward-Looking Data

All across the industry, it seems, people have a penchant for “forward-looking” models. They are sick of crude “backward-looking” tools, and are instead keen to use “modeled” rather than “historical”...

June 24, 2022 | By Tony Hughes


SEC Rule Has Fund Firms Grappling with a VaR Mandate

There is no summer respite for risk managers at asset management firms as they work toward an August 19 deadline to comply with Securities and Exchange Commission Rule 18f-4, which requires them to...

June 17, 2022 | By Michael Shari


In Brazil, a Domestic Election Under Global Pressures

Latin America’s distance from the Russia-Ukraine war blunts some of the economic spillovers buffeting those closer to the conflict. But for Brazil, with the approach of national elections in October,...

June 3, 2022 | By Dawn Kissi


How to Manage Balance-Sheet Risk in Volatile Times

If the wind changes, you’ll stay like that! When I was a tot, I’d make silly faces, and my parents sometimes tried to persuade me to stop by teasing that my face would remain in an unflattering...

May 27, 2022 | By Alla Gil


Crypto Billionaire Bankman-Fried Ignites Futures Clearing Debate

For better or worse – and understandably in view of its most recent downturn – the cryptocurrency market attracts outsize public, media and, increasingly, regulatory attention. Although relatively...

May 27, 2022 | By Jeffrey Kutler


SEC Proposals Raise CLO Market Concerns

The Securities and Exchange Commission has picked up its pace of proposed rulemaking – “too much, too quickly,” Securities Industry and Financial Markets Association chief Kenneth Bentsen has...

May 20, 2022 | By John Hintze


War Exacerbates Emerging-Market Headwinds

Emerging market economies, hit disproportionately hard by the pandemic and related shocks, are yet again reeling from inflation and other economic effects of the Russia-Ukraine war. That is the...

April 29, 2022 | By Dawn Kissi


Cyber Is Coming to Insurance-Linked Securities

The insurance-linked securities (ILS) market reached record volume last year and is primed to grow dramatically as insurers look to the capital markets to help cover ballooning cyber-related risks....

April 22, 2022 | By John Hintze


New Drivers for Credit Risk: Increasing Interest Rates and Rising Geopolitical Risk

Credit risk and interest rate risk are often perceived by banks as worlds apart, thanks in part to the well-established risk taxonomy of the Basel Committee on Banking Supervision (BCBS). However, in...

April 8, 2022 | By Marco Folpmers


A Risk-Based Way of Thinking About Digital Assets

In January 2021, Mark Makepeace came out of a short-lived retirement from London Stock Exchange Group’s FTSE Russell to become CEO of Wilshire. He immediately got into educating pension funds, asset...

March 18, 2022 | By Michael Shari


Ukraine Repercussions Include Heightened Geopolitical Risk, Widespread Uncertainty

Across financial markets, the confrontation over Ukraine generated that least welcome of investment factors: uncertainty. Volatility ran high as investors pondered various military-intervention...

February 25, 2022 | By Dawn Kissi


Strategic Asset Allocation: Analyzing Risk to Drive Return

Long-term investors typically use strategic asset allocation (SAA) to help them determine how to split investments among different asset classes. But traditional SAA often fails to consider both...

February 18, 2022 | By Alla Gil


Applying Exchanges’ Risk Measures Broadly Across Markets Will Support Post-Pandemic Rebound

Over the past decade, the securities trading industry has responded to economic and operational crises with a series of circuit breakers, limits and risk controls, implemented one at a time. The...

January 21, 2022 | By Michele Hillery


Risk vs. Return: How to Weigh the Pros and Cons of Alternative Investments

From fine art to cryptocurrencies, alternative investments are all the rage these days. Asset managers, insurance companies and pension funds are looking to alternative investments to boost returns,...

January 21, 2022 | By Alla Gil


Is Modern Portfolio Theory Obsolete?

Ever since Harry Markowitz introduced Modern Portfolio Theory (MPT) in “Portfolio Selection,” a 1952 Journal of Finance article, institutional investors have applied it to spread their risk across...

January 21, 2022 | By Michael Shari


After Evergrande, the China Market Moves On

From real estate debt to regulatory crackdowns to geopolitical tensions, China gives investors, risk managers and corporate strategists more than a few reasons to prepare for adverse outcomes or...

January 14, 2022 | By Dawn Kissi


Risk Management Predictions for 2022: Seeking Alternatives in Times of Uncertainty

Starting this month, Clifford Rossi - a former banking CRO and a current professor at the University of Maryland's Robert H. Smith School of Business - will be taking over as our CRO Outlook...

January 7, 2022 | By Clifford Rossi


Tail-Risk Reduction Through Resilience

Supply-chain failures, and their knock-on effect on inflation, have risen to the top of the list of economic concerns for both households and businesses. Their fears are well-grounded. As the world...

December 3, 2021 | By Cristian deRitis


Hibernate or Terminate: Making Pension Risk ‘Go Away’

Organizations across the U.S. continue to transfer billions of dollars of defined benefit (DB) pension plan liabilities to insurance companies. These so-called pension risk transfers could easily...

November 24, 2021 | By Tom Sablak


The Uncertainty of Inflation Risk

Fears of inflation have been rising. Indeed, persistent inflation and monetary tightening is now the most cited potential market shock, according to the Federal’s Reserve’s most recent financial...

November 19, 2021 | By Alla Gil


To Attract Investment, Mexico Shrugs Off Governance Troubles

With a muted long-term growth outlook, and state-owned petroleum company Pemex negatively impacting public finances, Mexico could be facing a downgrade, with governance indicators also playing a...

November 19, 2021 | By Dawn Kissi


The Building Blocks of Risk Strategy

Crises always reveal the true value of an adaptable, integrated approach to risk management. COVID-19 is no exception. Indeed, throughout the current pandemic, financial services firms have realized...

November 12, 2021 | By Brenda Boultwood


Lending and Libor: The Consumer Pain Point

In the U.S., consumers and borrowers are standing at the precipice of the biggest upheaval in the world of interest rates since the 2008 financial crisis. Surprisingly, they are largely unaware that...

October 29, 2021 | By Jonathan Rosen


How to Select, Monitor and Manage Useful KRIs

In establishing its risk framework, it is likely your organization started with a language of risk. Aligned with each risk in this taxonomy is one or more key risk indicators (KRIs). But what,...

October 22, 2021 | By Brenda Boultwood


In Corporate Finance, There Is a Premium on Being Proactive

For corporate finance, a lesson from the pandemic period is to be more proactive in managing financial risk and thereby accelerate efforts to deal with longstanding challenges. After COVID-19 struck...

October 8, 2021 | By John Hintze


In Lebanon, Tunisia and Other Hotspots, the Instability Is Local

From Lebanon to Tunisia, from Ethiopia to Syria to Myanmar, political and humanitarian crises are flaring up worldwide, destabilizing economies amid a backdrop of social unrest and vaccination...

October 1, 2021 | By Dawn Kissi


Mortgage Risk: Are Escalating Home Prices Dangerous or Defensible?

U.S. home prices rose by 19% over the prior year in June 2021, the fastest pace of growth in 45 years. Price increases in certain states and metropolitan areas have been even more eyepopping, with...

October 1, 2021 | By Cristian deRitis


How to Develop a Top Risk Approach

The board of directors always prefer a simple, concise summary of the organization's top risks over a voluminous risk report. Firms often use a risk heatmap to scrutinize the completeness and...

September 17, 2021 | By Brenda Boultwood


Securities Financing, Crypto Style

Securities financing, used by institutional investors to generate returns on assets and hedge price volatility, is becoming increasingly popular among cryptocurrency holders. Evidence of the...

September 3, 2021 | By John Hintze


Asset Managers on the Crypto-Risk Learning Curve

As high-net-worth investors, family offices and other professional and institutional investors diversify into cryptocurrency and other digital assets, a question arises about readiness: Have...

August 27, 2021 | By Michael Shari


What’s Missing in Asset and Liability Management?

Financial institutions rely on asset and liability management (ALM) to mitigate the risks associated with mismatched assets and liabilities. However, traditional ALM frameworks are narrowly focused,...

August 26, 2021 | By Alla Gil


With Formal Committee Support, Transition to SOFR in 'Homestretch'

The Alternative Reference Rates Committee (ARRC) has recommended a term version of the Secured Overnight Financing Rate (SOFR) for business loans and related transactions, after indicating previously...

August 6, 2021 | By John Hintze


Emerging Market Conditions - and Debts - Cloud the Global Growth Outlook

Forecasting 6% global growth for this year, the International Monetary Fund says, “We are seeing in some countries a recovery like no other, propelled by a combination of strong fiscal and monetary...

July 23, 2021 | By Dawn Kissi


Treasury Market Upheavals Bring Calls for Operational Fixes

Post mortems on the COVID-19 crisis, from a financial market perspective, home in on emergency interventions by the Federal Reserve and ensuing dysfunctions in U.S. Treasuries. There is no disputing...

July 23, 2021 | By John Hintze


LJM Fund Managers Face CFTC, SEC Charges; Chief Risk Officer Settles

The Commodity Futures Trading Commission and Securities and Exchange Commission have filed civil charges relating to losses incurred by the Chicago-based LJM fund complex amid the “volmageddon”...

June 11, 2021 | By Jeffrey Kutler


Term-Rate Turnabout: Multiple Choices Beyond Libor

Early this year, market participants were worried about the lack of a Libor-replacement rate with a term structure similar to Libor's. Now it is a case of which one to choose. Although the Federal...

June 4, 2021 | By John Hintze


U.S. Regulators Lag on FRTB as Europe Deadline Approaches

Rules stemming from the Basel Committee on Banking Supervision's Fundamental Review of the Trading Book (FRTB) market risk guidelines, initiated more than a decade ago, become effective in Europe...

May 14, 2021 | By John Hintze


High-Frequency Trading: A Sociologist's Take

For Donald MacKenzie, individuals' interactions with machines, mathematics and technology in competitive settings - and the risks that may ensue - are subjects of great fascination, whether in...

May 7, 2021 | By Katherine Heires


Structural Shifts Prompt Rethinking of Securities Lending Strategies

The ongoing bull market in equities has played a major role in depressing securities-finance revenue in recent years. Reddit “meme stock” traders fueled a temporary bump up in revenue early this...

May 7, 2021 | By John Hintze


What's Next? A Guide to Managing Inflation Risk

My 4-year-old son learned to ride a bicycle recently. This was not only a great accomplishment but also provides a perfect metaphor for risk professionals, especially now as we turn our attention to...

May 7, 2021 | By Cristian deRitis


For CLOs, a Bumpy Path Away from Libor

Collateralized loan obligations (CLOs) pool highly complex and bespoke syndicated loans into securities sold to investors with varying priorities. In the transition away from Libor, the predominant...

April 1, 2021 | By John Hintze


As Bitcoin Rises, Institutions Make Crypto Market Impact

When bitcoin climbed past $50,000 in mid-February, the digital-asset buzz was less about a new price spike than about the mainstreaming of cryptocurrencies and the institutionalization of the asset...

February 26, 2021 | By John Hintze


New Momentum for Ameribor Benchmark Follows Citi's Market-Making Move

Citi's decision to join the American Financial Exchange (AFX) and make markets in Ameribor-based derivatives brought the upstart exchange long-sought affirmation from a major Wall Street player. More...

February 12, 2021 | By John Hintze


A New Tool to Manage the Impact of Spread Compression on Index Annuities

The COVID pandemic has caused a crueler drop in sales of fixed index annuities (FIAs) than insurers have seen since the Great Recession, creating a new opportunity for inventive managers of...

December 11, 2020 | By Michael Shari


Compounding Libor Complications: A Panoply of Replacement Benchmarks

Market participants have never underestimated the difficulties of transitioning away from the Libor (London interbank offered rate) by the end of 2021, but as the countdown continues, the magnitude...

December 4, 2020 | By John Hintze


Operational Risk Metrics: Seeing Is Believing

Tests conducted by researchers at the Durham University Business School, in collaboration with the Risk Accounting Standards Board (RASB) found that exposures to the operational risks of U.S. banks...

December 4, 2020 | By Peter Hughes


Where Next with Operational Risk?

Despite 20 years of endeavor, it's thumbs down for banks' approach to operational risk management (ORM). The Basel Committee on Banking Supervision has abandoned the banks' flagship advanced...

October 16, 2020 | By Peter Hughes


On the Road to the Libor Transition: New Solutions Sought and Proposed

While heeding regulators' insistence that they move away from the London Interbank Offered Rate (Libor) benchmark by the end of 2021, U.S. banks are facing the fact that the Federal Reserve-supported...

September 25, 2020 | By John Hintze


What Is the Right COVID-19 Diet for Your Risk Appetite?

The pandemic has produced unprecedented shocks that have hurled financial institutions' risk limits into chaos in a short period of time. Consequently, significant revisions to the standard risk...

September 11, 2020 | By Alla Gil


Pandemic, Politics and Modern Portfolio Theory

During a four-week stretch in February and March, the combination of pandemic, politics and related economic fallout caused the Cboe Volatility Index (VIX) to spike by a historic 475%, from 14.38 to...

September 4, 2020 | By Michael Shari


Will a Financial Transaction Tax Put Markets at Risk?

Legislative proposals for financial transaction taxes have been surfacing with increasing regularity for at least a decade. The FTT idea – to impose small levies on trades of stocks and other...

August 21, 2020 | By Jeffrey Kutler


The Deflation Risk of Pandemic-Driven Stimulus Plans

Across the globe, in response to unprecedented economic disruptions caused by COVID-19, central banks have implemented unconventional monetary policies. In the U.S., for example, the Federal Reserve...

August 7, 2020 | By Tianyang Wang


The Rise of a 'Complexitocracy'

“Complexitocracy” is not in the dictionary. But maybe it should be. If it were, the definition would be something like, “governance or control exercised by an elite of quantitative modelers.” In bank...

July 31, 2020 | By Peter Hughes


The Trouble with VaR: Rethinking a Key Metric Amid COVID-19

The current COVID-19 crisis is leading to questions about the accuracy and efficacy of value-at-risk (VaR) as a risk management tool and as an input to capital computation. VaR measures the maximum...

July 2, 2020 | By Subrahmanyam Oruganti and Yashendra Tayal


World Economic Forum to Asset Managers: How to Mitigate 6 Systemic Risks

The World Economic Forum (WEF) and its research partners believe that asset managers are in a good position to help mitigate some of the world's most challenging risks. In late May, the Forum and...

June 26, 2020 | By Katherine Heires


The Impact of the Coronavirus on Investment Decisions

As the world heads toward a global recession, with plunging equity markets and countries facing severe economic downturns, there are uncertainties and strong beliefs that have practically divided the...

June 19, 2020 | By Nupur Pavan Bang and Anisha Sircar


Stability Amid the Storm: Can Another Full-Blown Financial Crisis Be Avoided?

In mid-May, the Federal Reserve Board released its Financial Stability Report, representing its “current assessment of the resilience of the U.S. financial system.” Needless to say, the Fed is...

June 5, 2020 | By Katherine Heires


Structured Finance Holds Up Under Pressure

The uncertainties of when and how successfully localities restore economic activity extends to structured finance transactions - and there are various scenarios. A national downturn would have to be...

May 15, 2020 | By John Hintze


Pandemic Bonds: A Tool for Mitigating the Short-Term Debt Crisis in China

The increased liquidity and credit risks imposed by COVID-19 have forced many Chinese businesses to rack up debt, with some now in danger of running out of cash. Small and medium-sized enterprises...

April 24, 2020 | By Yu Xiaojian and Zeng Wenzheng


Islamic Finance: More Mainstream, More Exposed

Islamic financial services has tallied a decade of positive growth, reaching $2.19 trillion in global assets as of 2018, according to the most recent Islamic Financial Services Board (IFSB) data....

April 24, 2020 | By Dawn Kissi


Economies and Populations Will Recover, but When?

"The coronavirus pandemic is a different kind of shock. Never before have modern economies shut down at the drop of a hat." Thus wrote Tobias Adrian and Aditya Narain, director and deputy director,...

April 17, 2020 | By Jeffrey Kutler


When Risk Management Turns into Crisis Management

Like everyone else, I've been cycling through the five stages of grief these past few weeks, saddened by the human tragedy unfolding across the world and the loss of a way of life that already seems...

April 9, 2020 | By Cristian deRitis


COVID-19 Calls for New Risk Measures

COVID-19 is different from all previous crises. It feels like a combination of a much broader version of 9/11, when all flights were canceled, and a much faster version of the 2008 financial...

April 3, 2020 | By Alla Gil


Coronavirus Risks and Challenges Impacting the Chinese Service Industry

The dramatic cost in human capital of the extremely contagious, life-altering novel coronavirus has been well documented, but the pandemic has also extracted a heavy toll on China's economy. The...

March 27, 2020 | By Yu Xiaojian and Zeng Wenzheng


Pondering Pandemics: Can We Get Better at Responding to Systemic Risks?

An economic system balances in a seemingly precarious equilibrium. It is not unusual for a CRO to be asked how his or her organization will be impacted under a variety of circumstances, including...

March 20, 2020 | By Brenda Boultwood


Finding Opportunities in Black Swans: China's Banking Industry Seeks Stability and Innovation amid COVID-19

The coronavirus pandemic has been a true black swan event, significantly increasing liquidity and credit risks in the global financial services industry. However, in China, regulators, banks and...

March 20, 2020 | By Catherine Chen


Coronavirus Spread Will Test Scenario Assumptions

The coronavirus outbreak sent equity markets into a tailspin and macroeconomic forecasting into overdrive. Publicly discussed scenarios ranged from cautiously benign to alarmingly pessimistic, as...

March 6, 2020 | By Ted Knutson and Jeffrey Kutler


The Libor Dilemma: How to Manage and Mitigate the Risks of a Tough Transition

The pending global shift from the Libor interest rate benchmark to an alternative reference rate is rife with legal, accounting, governance and technology complexities, imposing a heavy burden on...

February 21, 2020 | By Alla Gil


A New Take on Managing Volatility Risk on the Stock Market

In 2017, Alfred Eskandar and Tony Barchetto drummed up a fresh idea to manage the volatility risk of investing in the U.S. stock market. Dubbed truBeta, their process uses risk analytics to build...

February 21, 2020 | By Michael Shari


IHS Markit, Liquidnet Name Heads of Analytics Businesses

Financial analytics units of both business information services giant IHS Markit and trading platform operator Liquidnet Holdings said they filled top leadership positions in late January. IHS Markit...

February 7, 2020 | By Jeffrey Kutler


EquiLend Brings Automated Trading to Total Return Swaps

EquiLend Holdings, which was formed in 2001 to operate an electronic trading platform for securities finance, has expanded into the equity total return swaps (TRS) market. The New York-based company,...

January 24, 2020 | By John Hintze


Libor Transition Expected to Accelerate in 2020

The move away from Libor to an alternative interest-rate benchmark for debt and derivatives pricing is proceeding, although most of the action is around infrastructure to support the transition,...

January 24, 2020 | By John Hintze


CFTC Forms Two Market Risk Subcommittees

The Commodity Futures Trading Commission said it has formed two new subcommittees of its Market Risk Advisory Committee (MRAC): Central Counterparty Risk and Governance; and Market Structure. The...

December 6, 2019 | By Jeffrey Kutler


Ameribor Benchmark Is on the Blockchain

American Financial Exchange (AFX), a self-regulated marketplace for bank-to-bank transactions and home of the American Interbank Offered Rate (Ameribor) benchmark, has launched on the blockchain. The...

November 22, 2019 | By Jeffrey Kutler


Litterman Named Chairman of CFTC Panel on Climate Risk

The Commodity Futures Trading Commission said that renowned financial risk manager Robert Litterman will chair the newly impaneled Climate-Related Market Risk Subcommittee of the CFTC's Market Risk...

November 19, 2019 | By Jeffrey Kutler


Repo Crisis Sheds Light on Short-Term Funding Markets

In September 2019, when a shortage of short-term fund supply caused the repo interest rate to soar, Fed intervention was required to keep it under control. At the time, some wondered if this event...

November 8, 2019 | By Brenda Boultwood


NYU's Volatility Institute Broadens Its Mandate

The Volatility Institute at New York University's Stern School of Business, founded in the aftermath of the 2008 financial crisis, has a new name - the Volatility and Risk Institute - signifying a...

November 8, 2019 | By Katherine Heires


Libor Alternative Action: SOFR Makes Progress; IBA Adds Credit Spread

“The clock is ticking” has become a regular refrain of regulators intent on keeping financial market participants on course to replace the London interbank offered rate (Libor) by the end of 2021....

October 11, 2019 | By John Hintze


How to Account for Tail Risk in Wealth Management

Currently, we're in the longest period of fairly stable markets, but it is still critical to get ready for a potential downturn. Traditional measures of risk in investment portfolios are always...

October 4, 2019 | By Alla Gil


Will Shadow Banking Cause the Next Financial Crisis?

Policymakers, regulators and bankers were jolted from their collective complacency over the impact of nonbank companies on the financial system with Facebook's announcement of its Libra digital...

July 19, 2019 | By Clifford Rossi


Shadow Banking: Monitoring Vulnerabilities and Strengthening Policy Tools

“Shadow banking” is a catchy phrase that sounds sinister, sly, slick or shady. Yet that phrase obscures an important fact: Although some forms of shadow banking can be risky, complex or even toxic,...

June 21, 2019 | By Fabio M. Natalucci


How to Better Understand and Manage Natural Disaster Risks

While the start of summer has many of us thinking about vacations and outdoor activities, it also kicks off hurricane season, along with the onset of other severe weather-related patterns....

June 14, 2019 | By Clifford Rossi


A Favorable Climate for Alternatives

Investor interest in private equity and the need to diversify and hedge risk in volatile markets are working to the advantage of hedge funds, according to speakers at a recent New York Alternative...

May 24, 2019 | By Juliette Fairley


Vulnerabilities Intensify in the Global Financial System

In the global economy, there are some worrisome trends that could put economic growth at risk. Financial vulnerabilities have been intensifying worldwide as financial conditions remain relatively...

May 3, 2019 | By Tobias Adrian and Fabio Natalucci


A U.S. Libor Replacement with Traction

The big‐bank replacement for the London Interbank Offered Rate (Libor), known as SOFR (Secured Overnight Financing Rate), is working through some growing pains and development issues, including the...

April 26, 2019 | By John Hintze


Deutsche Börse to Acquire Risk Analytics Provider Axioma

Deutsche BÖrse has agreed to acquire Axioma, a New York-based company noted for its cloud-driven, multi-asset-class portfolio and risk management technology and customer base of more than 400,...

April 12, 2019 | By Jeffrey Kutler


Refinitiv Puts ESG and Fund Rating Units Under One Executive

Market data giant Refinitiv, having already endorsed United Nations Sustainable Development Goals and established “the link between sustainability and financial performance” as a pillar of business...

April 5, 2019 | By Juliette Fairley


The 'Global Technology Crisis': Modernize or Bust

The business of investment management has a technology crisis on its hands - a crisis that not only undercuts the ability of institutions to compete, but costs firms huge sums of money. Firms are...

March 15, 2019 | By Sebastian Ceria


ESG Regulation Turns from Issuers to Investors

Regulation of environmental, social and governance (ESG) investing, historically focused on corporate-issuer disclosures, is turning increasingly toward investors, according to indexing and risk...

March 15, 2019 | By Juliette Fairley


Brazil's Euphoric Right Turn

The market euphoria in Brazil since the election last fall of right-wing populist President Jair Bolsonaro does not mask the fundamentals of economic weakness and the investment risks that accompany...

February 15, 2019 | By Dawn Kissi


Market Risk: The Road Ahead

For many years, financial institutions have had a difficult time figuring where, exactly, their financial instruments should be allocated. Whether an instrument should be accounted for in the trading...

January 31, 2019 | By Marco Folpmers


Term Versions of Libor-Replacement Rates Pick Up Steam

Recent input from market participants about their preferred way to transition to a Libor-benchmark replacement surfaced concerns about several interconnected risks. Necessary to address them will be...

January 18, 2019 | By John Hintze


Amid Uncertainty, Deutsche Bank Strategist Sees a Sunny 2019

Consumer discretionary spending will keep the U.S. from falling into recession, according to Deepak Puri, chief investment officer and managing director of Deutsche Bank Americas Wealth Management....

January 18, 2019 | By Juliette Fairley


FRTB: The Road to IMA

“Buy the rumors, sell the facts” is normally a good trading strategy. It plays nicely to the human bias that the Roman senator Tacitus described as “omne ignotum pro magnifico est,” or everything...

January 11, 2019 | By Gil Shefi


Vetting Corporate Culture in Light of #MeToo

In a 2005 study of CEO employment contracts at U.S. corporations, only three out of 375 cited sexual harassment as grounds for termination. “I haven't done a follow-up study,” says co-author and...

January 4, 2019 | By Juliette Fairley



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