Profile: Standard Bank CRO on rogue trading, liquidity and lending
Basel III’s liquidity ratios do not make sense in South Africa, says Paul Hartwell, chief risk officer of Standard Bank. He’s hoping the country’s regulator will exercise some discretion. By Alex Monro
Since news broke of a $2.3 billion rogue trading loss at UBS on September 15, senior executives at banks around the world will have had one question in common: could the same thing happen here? South Africa’s Standard Bank is no different.
“Following the UBS case, we are going to be reviewing our controls and checks,” says Paul Hartwell, group chief risk officer at the bank in London “Although this particular loss appears to have occurred on the delta one desk, the cause is not specific to that
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