Banca Intesa Sets Up New Global Risk Management Infrastructure
MILAN--Banca Intesa, Italy's second largest bank, is setting up a new enterprise-wide risk management department. The group will be responsible for analyzing market and credit risks across the bank's operations, including regulatory VAR reporting, according to Bank Intesa officials. The company is currently installing a risk management system supplied by Toronto-based Algorithmics, these officials add.
Banca Intesa was formed in January as a strategic alliance between two Italian banks, Cariplo
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