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CONDON FAVOURS EMPOWERED RISK MANAGEMENT TEAMS

Kolkata, 8 March: “It is now imperative for large corporates to integrate proactive assessment and management of risk into their basic philosophy and form an empowered risk-management team,” said renowned Risk Management expert Dr Derek Condon of the Warwick University.  He was delivering the keynote lecture on ‘Risk Management and Corporate Governance’ today at The Oberoi Grand. Citing some of the business catastrophes of the recent past, Dr Condon observed that, “shares of companies that have put in place proper risk management systems, have generally beaten long-term market trends by around 10 percent. That was a proactive reaction of the market vis-à-vis the company’s risk profile.” Hosted by the Ruia Group, ‘A Rendezvous with Dr Derek Condon’ was attended by a spectrum of bankers, industrialists, business executives, financial analysts, and the faculties and students of the well-known B-schools in the city.

In his introductory speech Mr Pawan K Ruia, chairman of the Ruia Group, talked about why Risk Management today is naturally aligned with corporate governance. He said there was a lot to learn from disasters like Enron of the US and Satyam of India to preempt their repeats. He said that experience had taught him to attach importance to the plethora of cultural issues while considering the risks involved in cross-border merger and acquisitions.

Dr Condon is a senior teaching fellow at Warwick University and also holds a very clear India perspective on such issues.

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