(Reuters) -The traits banks tend to look for when hiring new traders are the very same ones likely to make them go rogue, industry insiders and psychologists say. Super-competitive, steely calm under pressure, motivated by money and willing to take risks tick all the right boxes for financial institutions.
By hiring such people, banks may be self-selecting those who are more likely to push risk too far. "If we say to be a trader you have got…
CFO South Africa is interviewing a large number of CFOs and CEOs of leading South African companies. From now on, we will publish them on our site regularly. Next in our series is Mr. Paul O’Flaherty, CFO of Eskom, a company staffing 42,000 people, which he joined in January 2010. He was appointed to the Board as executive…Continue
Added by CFO South Africa on October 26, 2011 at 9:00 — No Comments
Some people simply seem gifted with the ability to speak in public. While others struggle through nerves and stutters when giving a presentation, others just come up, entertain and inform their audience in an admirable way, seemingly effortless. And on top of it – the audience ends up doing…Continue
Added by CFO South Africa on October 24, 2011 at 9:30 — No Comments
There has been a sharp decline in confidence in the local economic situation. This is according to the Graduate Professionals Confidence Index compiled by insurance and investment company PPS.
The index - conducted on a quarterly basis - tracks the confidence levels of nearly 3,000 of South Africa's graduate professionals.…Continue
Added by CFO South Africa on October 20, 2011 at 11:00 — No Comments
CFO South Africa is interviewing a large number of CFOs and CEOs of leading South African companies. From now on, we will publish them on our site regularly. The second in our series is Cullen Penny, CFO of STBB (Smith Tabata Buchanan Boyes). Cullen Penny is the financial director of the law firm STBB, a company he joined in 2007.
Prior to this position, Cullen acted…Continue
Added by CFO South Africa on October 19, 2011 at 10:00 — No Comments
A survey released by Ernst & Young today, indicates that confidence in the asset management industry fell yet again in the third quarter of 2011. The fall in confidence levels was once again moderate, with confidence somewhat below long-term average levels (84 index points).
Asset manager confidence fell from 77 index points in the first quarter to 70 points in the second quarter of…Continue
Added by CFO South Africa on October 12, 2011 at 13:00 — No Comments
During the last couple of years, many of South Africa’s companies changed their strategy. Unfortunately, not all of them have proven to be successful. Which skills are essential for an advocate of change within an organisation to change their strategy or direction?
We asked a variety of consultants and strategists in the field, who all mentioned one key word when asked the question: ‘flexibility’. Noted.…Continue
Added by CFO South Africa on October 11, 2011 at 8:00 — No Comments
Black South Africans own at least 17 per cent of the 100 top companies listed on the Johannesburg Stock Exchange, according to an initial study, the head of the exchange said Tuesday.
"For now we can say the total value of shares owned by blacks is 17 per cent," said Mr Russell Loubser.
The government has set a target for blacks to hold 25 per cent of the locally…Continue
Added by CFO South Africa on October 5, 2011 at 16:00 — No Comments
Recently we got a chance to have a coffee with British forecasting guru Steve Morlidge. We took the opportunity to ask him more about forecasting, and about his perception of traditional budgeting being an outdated procedure. “The traditional method of budgeting is an internal process, designed to limit people’s actions within business. We only expand our look to the external world once a year, while business really should always be focused on the…Continue