2026/02/17 – In-Person and On-Line
LQG 2026/02/17 – 18:30 – What we learned about risk – and what we didn’t – Ed Fishwick – IP *OLO* Hybrid
Seminar by Ed Fishwick
The LQG is very grateful to the hosts of this seminar
What we learned about risk – and what we didn’t
Over recent decades, risk management has learned to measure, classify, and decompose. We can name exposures, model correlations and rehearse stress. The apparatus is elaborate, the language precise.
What remains elusive is how risk behaves once confidence itself becomes a variable. Regimes shift without warning, liquidity withdraws, correlations converge, and behaviour amplifies rather than absorbs shocks. The most consequential losses rarely arise from risks that were unseen, but from risks that were partially understood in isolation and underestimated in combination. This talk reflects on the gap between calculated risk and experienced uncertainty – and on the uneasy task of investing when probability offers comfort, but not protection.
About the Speaker
Ed Fishwick
Senior Managing Director
The Head of Research for the Risk and Quantitative Analysis Group (RQA)
BlackRock
Ed Fishwick, Senior Managing Director, is the The Head of Research for the Risk and Quantitative Analysis Group (RQA) at BlackRock.
Mr. Fishwick previously served as Chief Risk Officer and Global Head of RQA for four years, and before that as Global Co-Head of RQA for 15 years. His service with the firm dates back to 2003 including his time with Merrill Lynch Investment Management (MLIM) prior to its acquisition by BlackRock in 2006. At MLIM he was head of Risk and Quantitative Analysis, EMEA.
He is the Chairman of the London Quant Group.