Financial Services

The financial services industry has been transformed since Lehman Brothers filed for bankruptcy in mid September 2008. Established business models have gone and new ownership structures have been created – voluntarily and involuntarily – overnight. Asset managers can take some comfort that their core role of delivering investment performance remains the same. But the manner in which it is delivered is being fundamentally challenged. What are leaders doing to position themselves for the future?

Risk Management has certainly failed in some companies, but you can't blame a single function for the current crisis, says Lisa D. Zonino, consultant at Egon Zehnder International, New York, who offers insights into the Chief Risk Officer's role in the light of recent upheaval in the financial markets.