{"id":9748,"date":"2009-01-29T00:00:00","date_gmt":"2009-01-29T00:00:00","guid":{"rendered":""},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-30T04:00:00","slug":"madoff-red-flags-could-have-been-raised-by-santanders-software","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/01\/2009\/madoff-red-flags-could-have-been-raised-by-santanders-software.html","title":{"rendered":"Madoff Red Flags Could Have Been Raised by Santander&#8217;s Software"},"content":{"rendered":"<p>Bloomberg &#8211;&nbsp;Banco Santander SA&rsquo;s hedge fund unit used risk software that according to its developer may have &ldquo;waved red flags&rdquo; about Bernard Madoff investments. <\/p>\n<p>&ldquo;You definitely would have seen it,&rdquo; Riskdata SA Chief Executive Officer Ingmar Adlerberg said in a phone interview from Paris. Many of the company&rsquo;s 80 customers have thanked it for flagging risks linked to Madoff, he said. He refused to name them or comment specifically on Santander. <\/p>\n<p>Santander offered on Jan. 27 to pay 1.38 billion euros ($1.8 billion) to private banking clients hit by Madoff-related losses through the Spanish bank&rsquo;s Optimal Investment Services hedge fund arm. Geneva-based Optimal said Riskdata&rsquo;s FOFiX product was key to &ldquo;quantitative risk analysis&rdquo; for hedge fund investments in a 30-page due-diligence questionnaire filed last April with the Alternative Investment Management Association. <\/p>\n<p><a title=\"Read Complete Article\" href=\"http:\/\/www.bloomberg.com\/apps\/news?pid=20601085&#038;sid=aSnKRfI0jSBc&#038;refer=europe\" target=\"_blank\"><strong>Read Complete Article<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bloomberg &#8211;&nbsp;Banco Santander SA&rsquo;s hedge fund unit used risk software that according to its developer may have &ldquo;waved red flags&rdquo; about Bernard Madoff investments. &ldquo;You definitely would have seen it,&rdquo; Riskdata SA Chief Executive Officer Ingmar Adlerberg said in a [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[457,6598,4331,64,5390,5184,4255,4756,6602,6600,1116,2075,6597,3468,1951,6599,6601],"class_list":["post-9748","post","type-post","status-publish","format-standard","hentry","category-syndicated","tag-alternative-investment-management-association","tag-banco-santander","tag-bernard-madoff","tag-bloomberg","tag-chief-executive-officer","tag-due-diligence","tag-fund-investments","tag-investment-management-association","tag-investment-services","tag-optimal-investment","tag-phone-interview","tag-private-banking","tag-quantitative-risk-analysis","tag-questionnaire","tag-red-flags","tag-risk-software","tag-spanish-bank"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/9748","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=9748"}],"version-history":[{"count":0,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/9748\/revisions"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=9748"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=9748"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=9748"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}