Banks shelve plans to beef up risk teams
LONDON - Financial firms around the world are waiting for new regulations before hiring more risk personnel, a new survey has found.
The survey of risk and compliance officers, carried out in May and June by London risk consultancy GRS, found the deepening financial crisis in late 2008 forced them to shelve plans to expand their risk teams - while 80% had expected to hire more staff in May 2008, only 28% still expected to do so a year later. Meanwhile, late 2008 saw a flood of job cuts
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