Banks' Risk Officers at Risk

The recent departures of executives overseeing risk at several top banks burned by writedowns and losses suggests that more heads are likely to roll as the ongoing credit crunch roils on.

Over the past week, both Citigroup(C Quote) and National City(NCC Quote) replaced their heads of risk management.

Observers say that they expect more chief risk officers and chief credit officers -- more commonly seen at commercial banks -- to leave as the deterioration in the housing and mortgage markets continues to play out, most notably resulting in lower earnings and higher credit losses at the banks. ...