Banks boost investment in risk management

07/6/2009 | Financial Times (tiered subscription model)

Banks are striving to reduce expenses but are continuing to invest in risk management, according to an Ernst & Young survey. The research indicates a cautious tone among bankers because the economic outlook remains uncertain. "The end of the recession and a return to profitability is a tough one for any industry to call," said Tom McGrath of Ernst & Young. "But financial services are naturally more cautious -- and possibly more realistic -- about when the return to profitability might happen." For more on risk management, visit the AICPA Financial Management Center.

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