Working in partnership, Crown Agents Investment Management and Diamond Bank Nigeria are developing Diamond Bank's capacity to run multi-currency portfolios in international financial markets. With the encouragement of the Central Bank of Nigeria, this innovative developmental partnership forms part of the plan for Nigeria to evolve into a leading financial centre. Crown Agents has been a leading provider of training and capacity building to the Nigerian public and financial sectors for many years and the partnership is part of our long term commitment to Nigeria.
The comprehensive development programme involves building the knowledge, skills, systems and the processes needed to deliver competitive investment management services. It addresses the functions of the front, middle and back offices as well as the role of senior management.
Delivery takes place through a combination of locally run practical workshops, staff attachments at our offices in the UK and personal mentoring of key Diamond Bank staff. Modern analytical and communication technologies are being used, including Bloomberg and quantitative risk management software and the program involves using both dummy portfolios and a real portfolio to test alternative strategies and the effectiveness of trainees' investment decisions. Practical tests are being carried out quarterly where appropriate to measure and report progress, reinforce learning and address any organisational issues that might arise.
On completion of the program Diamond Bank will be able to offer its services as an investment manager serving the investment needs of both government and private sector investors seeking to invest funds in fixed income securities in international markets.