Boom or bust for risk consultants

Basel capital reform should mean a lot more business for risk management consultants. But a shortage of the right specialists could prevent them from cashing in.

The Basel Committee on Banking Supervision’s proposed new Capital Accord, released in January, will force banks to set aside capital specifically to cover operational risk. SanPaoloIMI, the €137.8 billion Turin-based banking group, therefore needs advice on risk management.

But the group is not able to model its operational risks itself, so it is now looking for an international risk management consultancy to advise on how to do it.

Under the new Accord, banks will also be able to lower their

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