NatWest Confronts Risk Issues After Rogue Trader's Losses
BANKS
The approximately £85 million worth of trading losses recently suffered by NatWest Markets highlights operational risk issues facing all financial institutions world-wide, say industry observers.
Kyriacos Papouis, the accused trader who left NatWest for Bear Stearns at the end of last year, allegedly buried the losses in the bank's interest rate options portfolio.
Risk experts contacted by FX Week's sibling publication, Risk Management Operations, were highly critical of NatWest, for what appears
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