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With the deadline drawing closer for financial institutions to transition from interbank offer rates (IBORs) to alternative risk free rates (RFRs), financial services advisory firm Fieldfisher Capital LLP has strengthened its LIBOR transition team with the appointment of Dr Arpad Borock. Most recently the Group Head of Market Risk at Qatar National Bank, Dr Borock will advise Fieldfisher Capital clients on LIBOR transition as well as risk management challenges and structuring innovative and risk prudent transactions.
Fieldfisher Capital Managing Partner, Haseeb Haque said, "Dr Borock's extensive experience in managing the IBOR transition at one of Middle East's largest banks adds significantly to Fieldfisher Capital's credentials and capacity to continue to advise its clients on IBOR transition.
"While the immediate concern for many clients is LIBOR discontinuance, Dr Borock's unique skill set and experience will also help Fieldfisher Capital to not only advise its clients on risk management challenges but also to structure effective and efficient risk prudent transactions."
As the Group Head of Market Risk at QNB, Dr Borock managed fundamental prudential risks of the bank especially liquidity, interest rate, currency and other market risks. His efforts to improve the bank's risk framework won QNB the "Best Market Risk achievement in MENA region" in 2019 from Asian Banker magazine.
After graduating as a lawyer, Dr Borock started his career in equity markets, moved into asset liability management (ALM) and treasury functions and assumed various front office and market risk management responsibilities in different countries.
Before joining Qatar National Bank in late 2016, Dr Borock worked for BNP Paribas for 12 years in Paris, Egypt, Hungary and Ukraine where he was responsible for rolling out group standards for ALM and treasury and building up market and liquidity risk management frameworks.
QNB started its LIBOR transition programme in 2019 with Dr Borock overseeing the strategic initiative for the entire group. He provided support to business, IT, project management and to all working groups to deliver required changes in systems, procedures, products, pricing, contracts and communication. Dr Borock will continue to support QNB while spearheading Fieldfisher Capital’s effort to provide full scope LIBOR transition consultancy covering IT, legal, business consulting and project management.
Dr Borock holds a master's degree in Finance and Accounting and a PHD in Law.
ENDS
About Fieldfisher Capital
Fieldfisher Capital LLP is a financial services advisory firm owned by the law firm Fieldfisher LLP. Fieldfisher Capital provides its FCA regulated activities as an appointed representative of Laven Advisors LLP which is authorised and regulated by the Financial Conduct Authority. Fieldfisher Capital does not provide regulated services or activities to retail clients – only professional clients and eligible counterparties.
For further information contact: jonathan.macpherson@fieldfisher.com or +44 207 110 0867.