Professors Roy Smith and Michael Pinedo comment on rogue trader-turned-adviser Nick Leeson and the launch of the Risk Team consulting service
Excerpt from GARP -- "'Nick Leeson is unlikely to convince serious professionals that he can add much to what they know. He is 20 years out-of-date,' says Roy Smith, professor of management practices at the Leonard N. Stern School of Business, New York University. 'What he did back then would never go undetected today,' Smith notes. ... Michael Pinedo, who teaches operational risk at NYU’s Stern School, says that Leeson 'put operational risk on the map,' and his celebrity helps to bring attention to an important subject. But there are limits to what he can impart to today’s executives 'because so many of the procedures have changed.'"