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Cyber risk takes on a new dimension as regulators hold employees responsible and hackers deploy the latest AI; political risk heightens for banks imposing sanctions on Russia; and liquidity risk prompts
...Without investors to answer to, the firm has been able to take more risk in the markets, an approach that has reaped rewards with performance that has beaten many of its hedge fund rivals....
...Lloyds Banking Group plans to cut jobs in risk management after an internal review found the function was a “blocker to our strategic transformation”....
...These changes require a different operating model, he adds, with family offices looking more closely at geopolitical risk and how they manage information flows....
...James GinnsHead of Risk Management Policy, Centre for Long-Term ResilienceLondon SW1, UK...
...The risk ‘genius’ pulling the insurance strings In early 2023, Ajit Jain was weighing Berkshire’s exposure to the risk of a devastating hurricane hitting Florida....
...That added risk not only for bondholders but also for investors in companies reliant on bonds....
...In this sense, we should consider crisis management as one of the most fundamental, and important, elements of modern risk management....
...He is “seeing more significant investment” by cyber leaders in “fleshing out risk management processes”....
...“By implementing a comprehensive security strategy that includes regular updates, configuration management, advanced threat detection and robust incident response plans, banks can mitigate the risks posed...
...Experts stress, however, that AI-powered cyber defences will not replace financial groups’ IT and risk management professionals in the foreseeable future....
...Burton says about a third of institutional investors hedge currency risk....
...“Trump is starting to enter the narrative as the US election approaches,” says John Roe, head of multi-asset funds at Legal & General Investment Management....
...That carries an increasing financial risk....
...The European Fund and Asset Management Association said that around 40 per cent of daily foreign exchange deals would be shut out of the main platform for reconciling currency trades when the US moves from...
...Glyn added that investors are “risk on”, which means they are more willing to take bigger risks when investing....
...It also said companies should allocate clear executive responsibilities for looking at the risks from margin calls, “to ensure effective and timely decision making by senior management and boards”....
...Chedid summed up the mood in April as “muted risk rather than risk off” as markets fell amid a further ratcheting back of expectations of Federal Reserve easing....
...The new era just needs a change of style with more focus on coupon protection and risk assessment....
...Last week the European Fund and Asset Management Association warned that the looming changes to the time it takes to settle trades on Wall Street pose a “systemic” risk to currency markets....
...US investment firm Harris Associates, which has more than $100bn in assets under management, “sold the stock last year as [we] lacked confidence that management could repair the business”, David Herro, the...
...The world’s largest buyout groups, whose ascent in the fund management industry was underpinned by the use of junk-rated loans, are placing low risk lending at the heart of their growth plans....
...Do you see reasons for optimism in the UK asset management industry?...
...Morgan thinks the US Federal Reserve will probably pave the way to a soft landing for America and the world economy, but adds that there are risks of a crash in the event of increasing geopolitical instability...
...“But lower risk doesn’t mean no risk,” Hyett added. “During the [2007-08] financial crisis the global stock market fell nearly 40 per cent....
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