Ex-Greensill Risk Chief Lands At New Firm, Recounts Collapse
By Al Barbarino (August 24, 2021, 4:26 PM EDT) -- Supply chain finance company Finverity announced it has hired the former chief risk officer of now-defunct Greensill Capital to head up its own risk function, saying the firm intends to learn from the mistakes made by the onetime financial giant.
Brett Downes will oversee Finverity's risk management and chair its credit committee, reporting directly to CEO and co-founder Viacheslav Oganezov, according to Monday's statement.
Greensill, the main financial backer of U.K.-based Liberty Steel, collapsed earlier this year after its insurers refused to back loans tied up in its supply-chain finance and related businesses.
Financial giants including SoftBank and Credit Suisse were...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!