Given their sensitivity to swings in ' market confidence, financial firms are particularly vulnerable to "key man" risk—the fallout from the sudden departure of a superstar. A senior executive at JPMorgan Chase once worried aloud that the bank's share price would fall by 20% if Jamie Dimon, its celebrated boss, left or slipped under a bus.mf Global, a smallish broker with big ambitions, is breaking new ground when it comes to pricing this risk. It is offering an extra percentage point of interest to investors in its latest bond issue, should Jon Corzine, mf's chief executive, quit to take a government job before July 2013.
展开▼
