Leeds & Holbeck Building Society is expanding its treasury activities and making three hires to support this growth. The U.K. thrift with approximately GBP5 billion(USD9 billion) in assets under management is looking to add a treasury dealer, a balance sheet risk manager and a balance sheet risk analyst in the next month or so, according to Paul Riley, treasurer in Leeds.
"Our hedging activity has been and is growing, as is our funding portfolio" said Riley, who noted the thrift is primarily expanding existing strategies. Riley, who declined to give details of future plans, has previously indicated the building society may consider credit derivatives (DW, 9/05). "We are also further segregating treasury duties," noted Riley. Currently, the treasury has a front and back office, but the risk manager and risk analyst will form part of a middle office. "In terms of reporting and risk strategy we think it's important to segregate these offices," said Riley.
