Deutsche Bank opens risk institute

Germany's Deutsche Bank has founded a risk management institute in Berlin aimed at identifying and managing early stage financial risks, reports The Wall Street Journal.

Deutsche Bank has already hired around 50 staff for the new institute and plans to boost its head count to 300 by year-end. A total of up to 700 new staff could be hired over the medium to long term, Deutsche Bank says.

"With integrated risk management, we can identify, evaluate and simulate possible risks early on, evaluate them and simulate them in real time with complex models," says Deutsche Bank's chief risk officer Hugo Baenziger.

Consolidation in the risk software market has gained pace over recent months in response to demand from the market for more integrated solutions, states Risk.net.

The passage of the Dodd-Frank Act in the US is going to put increasing pressure on institutions to have a good handle on risk exposure information from across the enterprise, according to analysts.

Gordon Burnes, vice-president, marketing, at OpenPages in Boston, says: “Firms have realised their existing systems aren't up to scratch due to the US stress tests and their inability to find data quickly in response to regulators' demands.”

Governance, risk and compliance solutions provider, Exterro, has released the latest version of its software platform called Fusion, says Market Wire.

Exterro says Fusion 4 provides legal and IT teams with greater control over the e-discovery process and seamlessly integrates with HR and asset management solutions.

"Enterprises looking to cost-effectively meet e-discovery obligations are treating e-discovery as a business process, and legal software as a critical asset of an enterprise IT infrastructure," says Bobby Balachandran, president and CEO of Exterro.