He stressed that CFO John Gerspach and Chief Risk Officer Brian Leach will remain with the company.
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Someone not so happy to see this power shift was Thomas Fischer, chief risk officer, who resigned on January 30th.
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In January, Mr. Roseman was notified by MF Global that he would be replaced by a new chief risk officer.
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The Whale was forced to step aside and the CFO and Chief Risk Officer were thrown overboard as well.
Since then, a team of 15 to 20 top Bank of America officials, led by the chief risk officer, Bruce R.
The bank announced that its chief risk officer, Bruce Thompson, will become chief financial officer, replacing Chuck Noski, who was named vice chairman.
The Journal earlier reported that the firm's chief risk officer, Michael Roseman, had raised serious concerns about MF Global's bet on European bonds.
In the aftermath of the big trading error, Knight also said it would create a board-level risk committee and a chief risk officer position.
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But a chief risk officer is impotent if he is nothing more than a glorified compliance chief, as is still the case at many banks.
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Warren Buffett is his own Risk Committee and Chief Risk Officer.
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And at the very top is a group chief risk officer who is in charge of the whole thing and desperately keen to understand what is going on.
Though JPMorgan put Goldman on administrative leave when the bank learned of the NYSE probe at Cantor, he was not only reinstated, but later promoted to chief risk officer.
He took with him the Harvard heads of domestic and international fixed income and both their staffs, as well as the chief risk officer, chief technology officer and chief operating officer.
Mr Fischer's departure is an embarrassment, since early blueprints of the new structure had him in a pivotal role as chief risk officer, and hence the senior contact with bank supervisors in Bonn.
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Swiss Re's Mr Singh notes that insurers have a respect for risk that is reflected in the status of the chief risk officer, who is treated as an equal partner in senior management.
James Vanasek, a former chief risk officer at WaMu, testified to a Senate investigative panel Tuesday that he urged chief executive officer Kerry Killinger to take WaMu in another direction as the mortgage market heated up in the mid-2000s.
Raj Singh, a former investment banker who recently became chief risk officer of Swiss Re, points out that the banks' risk models, which try to put a value on how much they should realistically expect to lose in the 99% of the time that passes for normality, draw on reams of historical data.
Mr. Cecil, who is chief enterprise risk officer at Flagstone Reinsurance Ltd.
Late Monday, Purcell made co-presidents out of Zoe Cruz , head of fixed income, and Stephen Crawford , the chief administrative and risk officer, pushing aside current President Stephan Newhouse .
Ms Gillan is no lightweight as she is a founding member of the PCAOB, served as general counsel for CalPERS and Chief Administrative Officer for Risk Metrics.
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"We do not expect a significant risk, " said Chief Financial Officer Jim Muehlbauer.
He's brought in outsiders, including Goldman Sachs alumnus Noel Donohoe, co-chief of risk management, and former NYSE executive Nelson Chai as chief financial officer.
He's brought in outsiders, including Goldman Sachs (nyse: GS - news - people ) alumnus Noel Donohoe, co-chief of risk management, and former NYSE executive Nelson Chai as chief financial officer.
Ina Drew, who was chief investment officer, said the bank's risk models were flawed and that some London-based staff hid information from her.
Bryan Draper, the company's chief executive officer, said they would not move away and risk losing out on local expertise.
But England's chief medical officer said the highest level detected posed "very little risk to human health".
"We wanted to expand the brand presence quicker and de-risk the business model, " says Karen Luey, chief financial officer of the Emeryville, Calif.
Companies are also increasingly appointing chief risk officers, who in many instances report directly to the chief executive officer.
Chief Fire Officer Des Tidbury said the service had been involved in many fire risk assessments since the Penhallow blaze.
Yet another impediment to addressing the risk is the lack of wide authority vested in the role of chief information security officer, Robinson explained.
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