Risk USA: BlackRock CRO highlights importance of liquidity risk
The single biggest lesson risk managers can draw from the financial crisis is the critical importance of liquidity, emphasised BlackRock's chief risk officer Bennett Golub, giving a keynote address at Risk USA in New York.
“If I could learn one and only one lesson from the crisis, it's the deep importance of liquidity and how liquidity affects every other aspect of risk. It's one of those places where nothing happens most of the time, but if something happens there, it's everything,” he says.
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