|
Washington, D.C. – September 9, 2002 – The Weather Risk
Management Association (WRMA), the international trade organization
of the weather risk management industry, has named Hiroshi Matsui of
Mizuho Corporate Bank as a member of its Board of Directors and
Hironori Kamezawa of The Bank of Tokyo-Mitsubishi as the new
Co-Chair of its Asian-Pacific Committee.
Matsui, who preceeded Kamezawa as the Asian-Pacific Committee’s
Co-Chair, is a Senior Vice President and head of Mizuho Corporate
Bank’s Derivatives Business Development Team. He brings a broad
range of experience in trading and the development of risk products
including weather, credit and oil derivatives.
Kamezawa, who is the head of The Bank of Tokyo-Mitsubishi’s
Derivatives and Structured Products Division and a Chief Manager
there, joins Toshihiko Aizawa, who is also a Co-Chair of the WRMA
Asian-Pacific Committee. He also brings a wealth of trading and
derivative development experience with him. At his current position,
he is responsible for business development and trading of exotic
interest rate derivatives and weather derivatives.
“The Asian-Pacific region is growing rapidly due in part to the
diversity of the deals being transacted in Japan and, more and more,
in Australia,” said Valerie Cooper, Executive Director of WRMA. “The
growth in the region that was reflected in our 2002 survey of the
market is continuing and we plan to capitalize on Mr. Matsui and
Kamezawa’s expertise to continue spreading the word.”
According to WRMA’s 2002 survey of the market, conducted jointly
with PricewaterhouseCoopers, the number of contracts transacted in
Asia grew by 304 percent in the last year and their total notional
value increased by 100 percent. The number of contracts in Australia
more than doubled and their total value grew by more than twelve
times.
The growth and development of the Asian-Pacific weather market will
be brought into sharp focus at the committee’s next meeting, which
will be held in Sydney, Australia March 5-6.
About the Weather Risk Management Association
Founded in 1999 by some of the leading companies in the industry,
the Weather Risk Management Association is the international trade
organization dedicated to promoting the industry both to those
within it and to end-users. Today, the association is comprised of
over 70 weather risk management companies from around the world.
WRMA promotes the industry by initiating surveys, advocating the
standardization of contracts and other documentation used for
transactions and sponsoring forums and conferences around the world
for members to meet and discuss a range of topics such as
international markets, data collection issues and tax and legal
matters.
For more information on the Weather Risk Management Association,
contact Josh Epstein at Clifford Public Relations, p: (212) 358-0800
x28. To find out more, contact WRMA at p: (202) 289-3800 or visit
www.wrma.org.
|
