Cost-cutting by banks and doubts about the
integrity of some of their analysts have got to have an
upside.
Ethan Berman, chief executive of RiskMetrics, has found it. A New
York-based quantitative analysis firm that was spun off from
JPMorgan in 1998 by 25 people, RiskMetrics now employs just over
200 and provides more than 450 clients with risk analysis
tools.
"I'd be lying if I said I saw how everything would develop," says
Berman. "Like I say, better lucky than smart. But I do think we did
things well."
Berman's career switch in his mid-thirties followed 11 years
in investment banking. He and his colleagues - risk managers and
computer programmers - could not see much future at JP Morgan.
"They looked at the senior people there and saw that they were not
risk managers and programmers," he says....
