News @ AsiaOne

Shinsei to name ex-BNP banker to head risk

Shinsei is expected to name Michael Cook as its chief risk officer, pending board approval. -Reuters

Tue, Jan 06, 2009
Reuters

TOKYO, Jan 6 (Reuters) - Shinsei Bank has poached a banker from France's BNP Paribas to take over its risk management, a person familiar with the matter said, as the Japanese lender looks to tighten risk control following its heavy subprime-related losses.

Shinsei is expected to name Michael Cook as its chief risk officer, pending board approval, said the source, who spoke on condition of anonymity because the information is not yet public.

Cook, formerly the chief risk officer for BNP Paribas' Hong Kong-based Asia Pacific operation, will likely be appointed later this month, the source said.

 

 
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