Breakout Session A3

Risk management, ratings and information asymmetries: Setting the right incentives for systemic stability

  • What is the role of rating agencies and how can ratings assure independence?
  • What do rating users expect from rating providers?
  • How to avoid conflicts of interest - perceived or real - in rating agencies and other financial services intermediaries?

Speakers:

Jermyn P. Brooks, Director Private Sector Programmes, Transparency International

Jermyn Brooks is currently Chair of TI’s new Business advisory after acting both as Executive Director and CFO after he joined the organisation in 2000 and subsequently as a member of the international Board. Until mid-2009 he led for TI’s private sector initiatives which included the involvement on the design of the AML standards of the Wolfsberg banking group, the Business Principles for Countering Bribery and other specific industry-focused initiatives. For the same period he was a member of the board of PACI (Partnering against Corruption Initiative) that was initiated by leading CEO's at the World Economic Forum in Davos.
Sean J. Egan, founding partner & managing director, Egan-Jones Ratings Company
Sean J. Egan is founding partner and managing director of Egan-Jones Ratings Company, which was organized for the purpose of providing timely, accurate credit ratings. Previously, he worked in KPMG’s risk-assessment business and in structured finance at Chemical Bank of New York. Mr. Egan has testified before the U.S. House of Representatives, the U.S. Senate, and the U.S. Securities and Exchange Commission. He holds a degree from the State University of New York at Buffalo and an MBA from Harvard University.
Alexander Ohl, Senior Portfolio Manager, Union Investment
Alexander Ohl studied mathematics and business administration at Justus Liebig University in Giessen earning his degree in mathematics in 2000. In 1997, he started his professional career in Rabobank’s Market Risk Control. His focus was on the monitoring and controlling of equities derivatives as well as developing new techniques for risk measurement. In 1999, he moved to DZ BANK where he first worked in risk controlling of interest rate derivates. From 2001 on, he was part of product development/ structured funding for restructuring and designing CDOs and other alternative investments. In 2003, he became portfolio manager at Gothaer Asset Management and was responsible for alternative investments with a focus on CDO structures. Since July 2005, Alexander Ohl has been a portfolio manager at Union Investment, mainly for structured credit products.

Facilitator:

Yasmin Osman, financial correspondent, Handelsblatt; Laureate Media Award, Initiative Finanzstandort Deutschland
Yasmin Osman is banking correspondent of the German financial daily Handelsblatt and Laureate of the Media Award of Initiative Finanzstandort Deutschland. Previously she worked with other German financial dailies as Financial Times Deutschland and Börsen-Zeitung. All in all, Ms. Osman follows the financial industry as a journalist for ten years. She holds a degree from the University of Passau.

 

Swiss Re Centre for Global Dialogue, Rüschlikon/Zurich

 
 

Media Partners