Risk management sweatshops? Number-crunchers move to satellite offices
From Berlin to Birmingham, from Tampa Bay to Dallas, banks have tried to boost their risk management resources – while keeping a lid on expense – by building teams in relatively low-cost cities. But do these far-flung offices improve performance? Joe Rennison reports
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In January this year, a group of bright-eyed young maths, computing and physics students arrived at the offices of a large European bank for an open day. They were going to find out about quant jobs within the bank’s risk function – the “best place to start a career in the finance industry”, according to the brochure they’d been given.
The same kind of scene is
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