Global Association of Risk Professionals Presents 2010 Risk Manager of the Year Award at Opening of Its 12th Annual Risk Management Convention and Exhibition in New York City

NEW YORK and LONDON, March 8, 2011 /PRNewswire/ -- The Global Association of Risk Professionals, (GARP, www.garp.org) today presented its 2010 Risk Manager of the Year Award to Dr. Hugo Banziger, Chief Risk Officer for Deutsche Bank AG, today at the Association's 12th Annual Risk Management Convention & Exhibition at the New York Marriott Marquis in New York City.

(Photo: http://photos.prnewswire.com/prnh/20110308/NY61508 )

The Risk Manager of the Year Award was established in 1997 by the Association to recognize the outstanding contributions and positive impact made by individuals or organizations to the financial risk management profession. The award recognizes the outstanding contributions of an individual or group who have materially advanced and influenced the financial risk profession.

Dr. Banziger is a member of the Management Board and the Group Executive Committee of Deutsche Bank since 2006.  As Chief Risk Officer, he is responsible for Risk Management, Legal, Compliance, Corporate Governance, Corporate Security as well as Treasury.  Previously, he was with Credit Suisse, where he worked in leading management positions in Zurich and London.   Dr. Banziger is a member of the Supervisory Board of EUREX Clearing AG and EUREX Frankfurt AG as well as a member of the Board of Directors of EUREX Zurich AG.

Richard Apostolik, Global Association of Risk Professionals President and CEO, said, "For the past 12 years, award recipients have been nominated and recognized by their peers for their expertise and contributions in risk management.  Award recipients are preeminent risk management professionals or organizations who have achieved recognition for their work experience in the field, either as a practitioner, academic or regulator and we are very pleased to include Dr .Banziger in this esteemed group."  

The award has not been limited to individuals, and, in 2007, was presented to the European Central Bank (ECB) which successfully transitioned the European Union to a single currency, while controlling the monetary and economic effects related to the expansion of the EU as it assimilated new countries into the single currency. The ECB was clearly in the lead in foreseeing and increasing risks to the financial system derived from the sub-prime market.

Last year, the award was presented to both the China Banking Regulatory Commission  CBRC) and its Chairman Liu Mingkang.  Mr. Liu took office as Chairman of the China Banking Regulatory Commission in March 2003. He currently also serves as Chairman of the International Advisory Council of the CBRC, a member of the Monetary Policy Committee of the People's Bank of China, a member of the 17th Central Committee of the Communist Party of China, and a member of China National Energy Commission.

The 2009 Risk Manager of the Year recipient was Dr. Rene M. Stulz, Reese Chair in Banking and Monetary Economics and Professor of Finance at the Fisher College of Business at Ohio State University.  Dr. Stulz has consulted for major corporations, law firms, the New York Stock Exchange, the IMF, and the World Bank and has been named one of the 100 most influential people in finance by Treasury and Risk Management.

About The Global Association of Risk Professionals

The Global Association of Risk Professionals (GARP) is a not-for-profit global membership organization dedicated to preparing professionals and organizations to make better informed risk decisions. Membership represents nearly 150,000 risk management practitioners and researchers from banks, investment management firms, government agencies, academic institutions, and corporations from more than 195 countries. GARP administers the Financial Risk Manager (FRM®) and the Energy Risk Professional (ERP®) exams; certifications recognized by risk professionals worldwide. GARP also helps advance the role of risk management via comprehensive professional education and training for professionals of all levels. www.garp.org.

SOURCE The Global Association of Risk Professionals (GARP)