SanPaolo chooses self-build


MILAN -- Domenico Mignacca had a simple enough target when he joined Milan-based SanPaolo IMI Asset Management from BNL Gestione in April 2001. The new head of risk management and performance and analysis had to get Italy’s biggest fund manager a risk management system. At the time, it did not have one.

The question was whether SanPaolo should buy the system or build one. It chose to do the latter, and by February this year SpiderWeb -- or the SanPaolo IMI Dynamic Expected Risk Model -- was u

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