5/2/2000
Increasing competition and the influence of electronic markets have worked to alter the contours of financial services firms — as well as tighten their margins. For firms to win now, writes the author, a risk management specialist at IBM Consulting, they must measure, price and manage risk much more efficiently. And though their hold on capital transfer is diminishing, he notes, "their role as intermediaries for risk has grown." With a minimum of mathematical formulas, Gleason describes the full spectrum of risk, then breaks it down into well-organized sections on measuring and managing market, credit and portfolio risk. He champions what he calls "global risk management" as it is applied, in various forms, at such major financial services firms such as Chase, Citigroup and Bear Stearns.