By Sinead cruise
LONDON | Fri Sep 23, 2011-11: 35-BST
LONDON (Reuters) - Bank bosses need to lose their jobs when a retailer in their payment is guilty, hide, risky bets that survey has found compromises to publish their employer's ability to dividend or repayment of bonds, a Reuters snap.
"(It) skin in the game and the determination to put in place stronger processes gives them," said a Fund Manager, argue the overall responsibility for the bank-trading activities should stop or be dismissed, if something goes wrong.
All 12 respondents investment houses run Chief Executive, said aggregated $1.7 trillion in assets, responsibility to assume, if investigations revealed risk negligence or serious shortcomings in controls.
The results make uncomfortable reading for UBS AG (UBSN.)(Head of Oswald Grübel VX) as it kickstarts a process of reconciliation with shareholders still reeling from news of an alleged $2.3 billion was at the largest bank Switzerland.
Senior figures in the Government of Singapore Investment Corporation, the largest investor in UBS (UBS).(N), have already abused the Bank for "Gaps", allegedly hiding inher Kweku Adoboli scores of unauthorized, loss-making is over several months.
Only four of the 12 fund managers said respondents that the debacle showed that the regulatory authorities in a quest to banks, with the majority of respondents, get rid of "Casino" blame inconsistent oversight in banks were dropped.
"Fraud by individuals was always a risk." Regulation will never stop this. Good management of the risk reduction is, "said a second Manager."
MAM means Fund Manager Martin Turner said however that the incident has shown that the regulatory authorities neither fully understand the risks banks, run it.
TURBULENCE
The survey shows growing frustration among asset, Manager by the extent of market turbulence disturb that caused by reckless bankers in recent years with the shock of Société Générale (SOGN.)(PA) 5 billion euros in the hands of traders still fresh in the minds of Jérôme Kerviel taken.
Frederic Oudea, CEO of France no. 2 Bank, whose registered shares have concerns about the future financing of almost 50 percent decreased since June on the back, is still struggling to regain investor confidence.
Three respondents they reconsider the size of their bank stocks and bonds holdings following the UBS losses, foreshadowing trouble for banks, planning to tap money market for Basel III requirements for increased capital.
Shareholder of Threadneedle investments told Reuters at an event in Taipei, Leigh Harrison, global head of equities at UBS, Grübel needed to step down, but he interest lost in buying more shares of UBS.
A fifth poll respondent requesting anonymity, who said: "We are likely to reassess portfolio..." (UBS case) means that we focus on perceived risk controls-something that very difficult to assess with any accuracy is, ", admitted the Manager."
Sanjay Joshi, senior portfolio manager, investment Manager London & capital, said that he would probably reduce its exhibition.
But seven Manager said she had begun, back exposure to the sector pare long before the events of the last week of fears of one dealer, to benefit from new opportunities outside the strict rules on proprietary trading finding increased the number of Chevelle.
Chris Bowie, head of the credit for the Ignis asset management, he said already significantly underweight in banks, in particular investment, while a seventh Manager, that banks stopped, attractive said, if they "the shift from growth to utility, which for 25 years" started.
A third of the respondents said that confidence in the ability of the merchant to manage the risks that you always changed, can with even the most experienced traders to make costly mistakes.
But a quarter said that she doubted, that had to deal with many of the skills or training in a volatile market environment.
"Most of them are rubbish." There is no question of education, only notice not they play with other money, "Added the first Manager."
(Additional reporting by Chris Vellacott;) Edit by David Holmes and Jon Loades-Carter)
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