Ernst & Young Hires Consultancy's Global Risk Team

The global risk management team from Emcor, headed by Robert J. Baldoni, has joined Ernst & Young LLP's risk management and regulatory practice. A former director of finance at Sperry Corp., Mr. Baldoni had been a managing director at Emcor, an Irvington, N.Y., consultancy, since 1986.

He and his team were leading designers of financial risk management programs, and were widely cited as experts when journalists had to make sense of a rash of derivatives-related financial disasters two years ago. The group also pioneered corporate applications for the use of value-at- risk methodologies.

Ed Pisani, partner in charge of Ernst & Young's risk management group, said Mr. Baldoni's team would help the firm develop cost effective risk management solutions.

"Our focus is to expand the end-user risk management focus of the company," Mr. Baldoni said.

Emcor continues to operate a global management and trading division and a money management arm, Mr. Baldoni said.

For reprint and licensing requests for this article, click here.
MORE FROM AMERICAN BANKER