This week's risk management news includes BI’s sanctions on Bank Mega, a key leadership change at Mizuho Financial Group, and the appointment of MAS' new chairman.
May 25, 2011 | The Asian Banker Editor
BI punishes Bank Mega for missing funds cases
Bank Indonesia has slapped sanctions on Bank Mega, citing weak internal controls on two cases of missing funds worth $22 million. Investigation carried out by BI found Bank Mega in violation of its internal procedures, with weak risk managemen
Head of Mizuho Financial Group steps down
Mizuho Financial Group has announced that Takashi Tsukamoto, president of MFG will step down and its corporate banking chief will take the helm, after a series of system troubles including a breakdown in ATMs after the devastating March earthquake..
Monetary Authority of Singapore appoints new chairman
The Monetary Authority of Singapore has appointed Tharman Shanmugaratnam as chairman of the board. Shanmugaratnam is MAS’ sixth chairman, and replaces Goh Chok Tong who had served as Chairman of MAS since August 2004.
Re-disseminated by The Asian Banker
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Risk And Regulation Working GroupKeywords:BI, Bank Mega, Mizuho, MAS