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For more information please see below for a list of contacts

Permanent and market intelligence enquiries:

London HQ – Peter Johnson

EMEA – Oliver Berger

Asia – John Hetherington

Americas – David Carden

Interim:

London HQ – Vicky Griffiths

EMEA – Oliver Berger

Asia – John Hetherington

Americas – Simon Mayo

Key Moves

Regulator

  • Martin Wheatley’s departure from the Financial Conduct Authority (FCA) signalled the start of a number of internal moves and external hires within the regulator. The background of the individual appointed to replace Wheatley will be an important indicator of the regulator’s approach to the future.
    • Tracey McDermott, who took on the interim CEO role at the FCA in September, has a background in line with Wheatley’s, having previously held roles as Head of Enforcement and latterly Head of Supervision at the FCA.

    • Megan Butler, previously Executive Director of the International Banks Directorate at the Prudential Regulation Authority (PRA), has recently joined the FCA on secondment as Director of Supervision – Investment, Wholesale and Specialist.

    • Mark Steward joins the FCA as Director of Enforcement and Market Oversight in the Autumn having previously held the role of Head of Enforcement at the Hong Kong Securities and Futures Commission.

Banking

  • There is significant focus on central compliance at large banking groups. Firms are continuing to restructure and grow their central compliance functions to ensure global consistency across key disciplines.
    • Laura Padovani, joins Barclays as Global Head of Compliance Services and Strategy from American Express where she was International Head of Compliance.

  • Monitoring and surveillance is a key area of concentration, with many firms fundamentally reviewing the work of their functions and enhancing capability, in line with increased regulatory scrutiny in this area.
    • Joanna Redgrave, former Co-Head of EMEA Securities Compliance at Goldman Sachs, has joined JPMorgan in a senior compliance role responsible for monitoring, surveillance, testing and some other centralised functions.  

  • As compliance functions grow in size and new senior roles are created, high calibre individuals, continue to move into compliance from other areas including the front office, audit and legal.
    • Francois Jourdain at Barclays has become Global Head Compliance for the investment bank, having previously held very senior roles within the front office.

  • Financial crime continues to be important for large banking groups, particularly across areas such as analytics, monitoring and surveillance and sanctions.
    • Steve Munro joins Standard Chartered as Head of Sanctions Compliance from GE Capital where he was Global Anti-Money Laundering Leader.

    • Carmel Speers moved to Standard Chartered as Regional Head of Financial Crime Compliance for Middle East, North Africa and Pakistan, having previously been EMEA Head of Financial Crime Monitoring and Control at JPMorgan.

    • David Clark joins Standard Chartered as Head of Financial Crime Surveillance Analysis and Academy, having previously been Head of International Financial Crime Compliance at GE Capital.

  • Kate Vetch has made the move to UBS as Managing Director in Investment Banking Compliance. Vetch joined the bank from Bank of America Merrill Lynch where she held the role of EMEA Head of Investment Banking Compliance.

Asset & Wealth Management

  • Given the continued difficulty of creating consistent revenues from their investment banking businesses, large global banking groups are investing in their wealth management businesses. We have seen a significant number of firms creating new senior roles in wealth management compliance or upgrading those leading these functions.
  • Independent wealth managers are strengthening their compliance functions as they adjust to an increased level of regulation and a more inquisitive regulator.
    • Derrick Cain joined Julius Baer as Head of Compliance in London, having helped RBS set up compliance for the new challenger bank Williams & Glyn.

  • Asset management firms and hedge funds are building out and strengthening their compliance and regulatory teams in line with heightened legislative and regulatory change across the globe. Key regulation affecting them includes MiFID 2, AIFMD and EMIR.
    • Kate Squire moved to Man Group in September as Head of Compliance and Regulatory, having previously been Global Head of Compliance for the Investment Bank Macro, Treasury, and the Investment Bank Compliance Strategy Team at Barclays.

    • Jane French joined Deutsche Bank in August as Global Head of Compliance for Asset and Wealth Management from Citi Private Bank where she was EMEA Head of Compliance.

Interim

  • Individual accountability / SMR is receiving much focus, with many institutions turning to interim experts for both impact assessment advice and change management expertise. 
  • Investment businesses continue to contend with the wide-ranging reforms of MiFID II. There is strong demand for interims with MiFID subject matter expertise as well as programme management experience, not just within Compliance but across the business.
  • Financial crime remains a priority and focus across financial services; interims with extensive AML/KYC experience are in high demand.