The International Swaps and Derivatives Association is creating an Asian risk management committee in the coming months and has hired Chiang Kheng Hong, v.p. in the market risk group at OCBC Bank in Singapore, to spearhead the effort. "We'll be predominately focusing on such issues as the implementation of the Basel II Accords," said Chiang.
The move comes as the region focuses on risk management. "People are taking more complicated risks," said Masahiro Hosomi, general manager of the business development office in the structured products division at Mitsubishi Securities and ISDA board member in Tokyo, adding, "Plain vanilla risks are under control but now there is more exotic risks and a need for more sophisticated risk management."
