Kamakura has named Warren Sherman managing director for client technical services and product management. Sherman will be responsible for overseeing the installation and designed of the Kamakura Risk Manager credit risk, market risk, performance measurement and asset and liability management system. In addition, he will manage Kamakura's On-Line Processing Services and Risk Information Services products. Previously, Sherman was in the SunGard Global Markets Division where he designed the Global Trader and eGlobal Trader sell-side trading systems. He has also served as vice president and manager of global trading and distribution systems at First Interstate Bank in Los Angeles and London.
NetRisk and Predictive Systems, a network infrastructure and security consulting company, have formed a strategic alliance to deliver a combined risk management service focusing on technology and operational risks. The service will leverage NetRisk's OpVantage subsidiary for operational risk and Predictive Systems' network and security consulting services to help clients with the measurement and management of operational and technology risks.
Financial Engineering Associates has launched a new on-line data-set service for Value-at-Risk calculations. The VaRessentials datasets provide G-25 volatilities and correlations calculated according to RiskMetrics' standards guidelines. Subscribers can download data-set files directly from the FEA Web site for the past five business days, past twelve month-ends and past three year-ends. The data sets are generated three times per week for a $295 yearly subscription fee.