Arthur Levitt, a senior adviser to The Carlyle Group, Has joined the RiskMetrics Group. He has become a member of it's board of directors.
Levitt served as Chairman of the Securities and Exchange Commission. He was appointed that position by President Clinton in 1993.
The RiskMetrics Group is a financial risk management firm. They give advice to corporations and banks worldwide.
home.businesswire.com
NEW YORK--(BUSINESS WIRE)--April 4, 2005--RiskMetrics Group today announced the appointment of Arthur Levitt, former Chairman of the US Securities
and Exchange Commission to its board of directors. Mr. Levitt, currently a senior advisor to The Carlyle Group, joins the company as a non-executive
director.
Mr. Levitt has been asked to help RiskMetrics Group advance its risk suitability monitoring service which assures that advisors match investors' risk
tolerance levels with appropriate investment products.
In announcing the election of Mr. Levitt, Ethan Berman, RiskMetrics Group CEO said: "Having earned a reputation as America's foremost investor
advocate as well as promoting improved financial reporting, Mr. Levitt shares our view that transparency is the key to liquid and efficient
markets."
Mr. Levitt served as the 25th and longest serving Chairman of the Securities and Exchange Commission (1993-2001). During his tenure he fought for the
independence of auditors, improved financial reporting and leveling the information playing field through Regulation Fair Disclosure.
Commenting on his association with RiskMetrics Group, Mr. Levitt said, "Providing investors with timely, accurate and transparent information about
the risks of their assets is crucial to the financial services industry. I look forward to assisting financial advisors in their efforts to provide
suitable and comprehensible investment advice."
Please visit the link provided for the complete story.
Please read the ATS links below if you are not familiar with The Carlyle Group.
To me Levitt being put on RiskMetrics' Board of Directors looks like a Carlyle move to gain even more global control.
RiskMetrics Group clients include over 600 of the world's leading institutions, spanning banks, private banks, asset managers, hedge funds,
insurance companies, online brokerages and financial advisers. Represented are nine of the 10 largest financial institutions, half of the world's
central banks, companies in high-tech and consumer goods, and asset managers managing from $100 million to $300 billion in assets. Over half of our
clients are based outside of the United States.
That is quite a boost in control for the Carlyle group.
I can see it now, soon our banks will be investing in Carlyle's interests. Carlyle only deals in buy-outs, but now they have a hand in our banks.
Keep a close eye on the RiskMetrics Group you will be hearing a lot more about them.
Related News Links:
www.riskmetrics.com
www.finextra.com
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[edit on 4/4/2005 by Umbrax]