Accumulators, an instrument with limited upside but potentially massive downside, were a disaster product during the financial crisis. Indeed, while Lehman mini-bonds got all the press, structured products teams suffered bigger hits in terms of credibility and goodwill due to client losses on accumulators. But the product is still with us. In private banking circles, it never really went away…
Rethinking accumulators
Have a confidential tip? Get in touch [email protected]
