Added Value in Financial
Institutions
Risk or Return
Emmanual Acar
Performance attribution is
well standardised within fund management, due to modern portfolio theory. However, the
rewards made to senior executives are a much more subjective topic. Bonuses and salaries
are negotiated on a person-to-person basis and vary from one institution to the next.
The same tools used in the
fund industry to measure performance may also be used to assess added-value generated by
senior managers and executives within financial institutions. Added Value in Financial
Institutions demonstrates how this can be done and will allow general managers to start
using modern portfolio theory to reward their staff.
It provides a common
framework to benchmarking as well as theoretical tools to design and refine benchmarks
whilst maintaining an understanding of the specifics of different sectors. Including
contributions from some of the leading names in the field, the book offers a novel
approach to measuring performance and reward within hedge fund companies. It is prime
reading for senior executives, consultants, risk managers, portfolio managers and
derivatives traders alike.
Edited by Emmanuel Acar, an
actuary with banking experience, Added Value in Financial Institutions is a groundbreaking
guide, unveiling the true worth of added value.
- Original
contributions from traders, investment professionals, bankers, economists, academics and
actuaries, including:
Emmanuel Acar, Citibank
Joe D'Alessandro, AIG Asset
Management
Jeroen van Bezooyen, Morgan
Stanley Dean Witter
Roger Boulton, Watson Wyatt
Kevin Chang, Credit Suisse
First Boston
Rebecca Demsetz, Federal
Reserve Bank of New York
Maureen Duffy, The Journal of
Performance Measurement
Lauwerus van Eesteren, CTA
C-View, previously Dresdner Kleinwort Wasserstein
Helie d'Hautefort, Overlay
Asset Management
Soosung Hwang, City
University Business School, London
George Martin, TRS Associates
Renaud Mattis, Overlay Asset
Management
Joe Prendergast, Credit
Suisse First Boston
Karin Roland, Valdosta State
University, Georgia
Marc Saidenberg, Federal
Reserve Bank of New York
Stephen Satchell, Trinity
College, Cambridge
Dmitry Shchukin, STELT
Telecom
Robert Toffel, JP Morgan
Chase & Co.
Robert De Young, Federal
Reserve Bank of Chicago