Risk Management

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Greg MacSweeney
Greg MacSweeney
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Lloyds Lacking Risk Controls? Weisel's Armstrong Ties Questioned, and More News of the Week

Lloyds Bank, following a few systems failures in 2012, is facing accusations from a former executive that risk controls are lacking, while Thomas Weisel is under scrutiny for ties to Lance Armstrong, HSBC can't get away from its money laundering settlement and "genius" trader risk top this weeks chatter in the press and on Twitter.
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2. Lloyd's Business Continuity Problems?

There has been an underinvestment in core systems over the past few years, as the banks have been focused on the euro crisis and credit crisis. The big back-end systems have not really been touched.

— Nicholas Brewer, senior analyst, Aite Group

Source: Banktech.com: Lloyds Whistleblower Says Bank's Business Continuity Plan is Flawed

 

Greg MacSweeney is editorial director of InformationWeek Financial Services, whose brands include Wall Street & Technology, Bank Systems & Technology, Advanced Trading, and Insurance & Technology. View Full Bio

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Melanie Rodier
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Melanie Rodier,
User Rank: Author
1/24/2013 | 10:28:13 PM
re: Lloyds Lacking Risk Controls? Weisel's Armstrong Ties Questioned, and More News of the Week
Funny quotes, though it's unfortunately true that HSBC, and so many other financial institutions have never really been held accountable for their mistakes. Hopefully the new guard at the SEC will be able to change some things, at least going forward...
Cara Latham
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Cara Latham,
User Rank: Apprentice
1/23/2013 | 2:09:35 PM
re: Lloyds Lacking Risk Controls? Weisel's Armstrong Ties Questioned, and More News of the Week
Good collection of funny quotes!
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