Barnett Waddingham launches Business Risk Services

Barnett Waddingham has launched a new risk management service. The practice, named ‘Business Risk Practice’, aims at helping clients mitigate, manage, and optimise business risks. To lead the new offering Barnett Waddingham has attracted Danny Wong, an expert with more than 15 years of experience within risk management.

Driven by factors such as ever increasing demands from regulators for compliance on ever more complex regulations, as well as new risks factors such as climate change, risk management is one the fastest growing segment in the UK consulting market. To capitalise on the growing demand, Barnett Waddingham has decided to enter the landscape through the launch of a dedicated 'Business Risk' unit.

Business Risk Practice
The new practice aims to provide risk management services and practical solutions to corporate and smaller clients alike. The service will provide risk assessment across a wide range of subject areas, including risk adjusted budgeting, forecasting, appetite and culture, project risk management, risk methodology and enterprise wide or specific deep dive risk assessments. To lead the new practice, the consulting firm has hired enterprise risk management expert Danny Wong.

Wong started his career at Bell Canada in 2000, working his way up to the level of Associate Director at the firm’s Enterprise Risk Management practice over his 5 years at the company. In 2005, he moved to the Genesis Housing Group, where he took on the role of Head of Risk Management, before becoming a Risk Consultant at BT a year later. In 2008, Wong joined KPMG Advisory as an Enterprise Risk Management Executive Advisor. After two years, Wong left KPMG to become the Director of Corporate Risk at InterContinental Hotels Group, where he worked for five years.

Wong holds a Bachelor in Mechanical Engineering from the University of Waterloo and an MBA from York University, Schulich School of Business.

Commenting on his new role, Wong says: “I’m excited to join Barnett Waddingham and help develop the new business risk practice. I have spent my entire career in enterprise risk management holding both in-house and advisory roles. I’ve seen the profession evolve, learning what not-to do as well as seeing the power and potential of truly effective risk management in driving strategy, commercial decisions and real business change. ”

Nick Salter, Senior Partner at Barnett Waddingham, adds: “I am pleased to announce the launch of our new business risk practice which will help companies better manage the many risks within their business.  It comes at a time when businesses are operating in a more complex and uncertain environment but must take risks to meet their growth ambitions.  Effective risk management is now more than ever a necessity for both survival and growth.  We believe the combination of Danny’s practical business risk experience and the core actuarial skills within Barnett Waddingham can be combined to offer our clients real insight.”