History
Businesses have utilized risk management strategies ever since the first product or service was created. In the 1950s, risk management emerged as a specialty due to the growing complexity of business operations and manufacturing processes.
In the wealth management industry, demand for chief risk officers grew rapidly after the Great Recession (December 2007-June 2009) as a result of increasing government regulation of the financial sector and escalating concerns by investors regarding risk factors that could affect their investments.
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