Element of risk: The dark side of the banking world

Research output: Book/ReportBook

Abstract

Alexis Stenfors, a Finnish banker for 15 years, has been the investment banker in the industry's most important banks (HSBC, Citi, Crédit Agricole and Merrill Lynch) until he was caught up in the value of his investment portfolio in 2009. By doing so, he caused his employer losses of EUR 465 million and lost his job and reputation.

The risk factor is Stenfors's own experience-based analysis of banking and financial problems: manipulation of markets and interest rates, cheating customers, and incentive schemes that whip up treaders to take on ever greater risks.

At this time, caught prisoner bankers, according to Stenfors, are merely a symptom of deeper structural problems in the industry. Banks are largely responsible for deciding on the rules of the financial sector and acting as their own game referees. Stenfors is fascinating to enlighten the minds of the treasurers running the global financial economy.
Translated title of the contributionElement of risk: The dark side of the banking world
Original languageFinnish
PublisherVastapaino
Number of pages300
ISBN (Print)978-951-768-621-1
Publication statusPublished - Apr 2018

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