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Key Moves

Regulator

  • Jonathan Davidson was appointed by the FCA as Director of Supervision,  Retail and Authorisations. Prior to this he was a senior advisor to private equity and financial services firms. He was also a member of Jardine Lloyd Thompson’s Strategic Advisory Group working with JLT’s Chief Executive Officer and senior management team.

Banking

  • Credit Suisse has restructured its Global General Counsel function. It has split compliance out of the division:
    • Lara Warner has been appointed as Chief Compliance & Regulatory Affairs Officer, based in New York. Prior to taking on this role she was COO for the firm’s investment bank.
  • Deutsche Bank has restructured its global compliance and regulatory affairs function:
    • Sylvie Matherat has been appointed Chief Regulatory Officer, having oversight of compliance in addition to her remit as global head of regulatory affairs.
    • Philippe Vollot has been appointed COO for the combined function, having previously been Global Head of Regulatory Relationship and Coordination.
  • Jonathan Rees, Compliance CTO at Barclays, has been appointed Head of Compliance Strategy now reporting to the Global Compliance COO, rather than Global Head of Compliance Services, Laura Padovani.
  • Dan Staehle has joined Morgan Stanley Bank as Chief Compliance Officer from GE capital where he was Managing Director, Supervisory Affairs.
  • Scott Anderson joined UBS Investment Bank as Americas Head of Compliance and Operational Risk Control. He was most recently Head of Capital Markets Compliance at Fidelity.
  • Mark Goulden has joined Deutsche Bank as Global Head of Markets Compliance. He joined from JPMorgan where he was EMEA Head of Markets Compliance & Global Head of Equities Compliance.
  • Jill Ostergaard has resigned from her role as Chief Compliance Officer at Barclays.
  • Pamela Root, Citigroup’s Head of Compliance for the Institutional Client Group (ICG) has left the firm.
  • Financial crime continues to be important for large banking groups, particularly across areas such as analytics, monitoring and surveillance and sanctions.
    • Kathy Woodfine has joined Citigroup as EMEA Head of Financial Crime, having previously held the same role for Bank of America Merrill Lynch. She replaced Simon Kingsbury who joined RBS as Group Head of Financial Crime in mid 2015.
    • David Lewis took over from Rick McDonell as the Executive Secretary of the Financial Action Task Force (on Money Laundering) (FATF). David was previously Head of AML / CTF at HM Treasury.
    • Sharon Campbell, Director of Financial Crime and Intelligence for Santander UK has recently left the firm to join Nordea Bank as Head of Compliance & Financial Crime.
    • Matthew Chapman has joined Standard Chartered Bank as Global Head of Anti-Bribery and Corruption. Prior to this he was UK Head of Financial Crime & Global Head of Financial Crime for the investment bank at UBS.
    • John Panagopoulos has joined HSBC as US Head of Financial Crime for Wholesale Banking. John joins from Barclays where he was Global Head of Financial Crime Intelligence, Surveillance and Investigations.

Asset & Wealth Management

  • Independent wealth managers are strengthening their compliance functions as they adjust to an increased level of regulation and a more inquisitive regulator.
    • Duncan Taylor joined Canaccord Genuity as Head of Compliance from Charles Stanley, where he held the same role.
    • Richard Kent has joined Babson Capital Management as Head of Compliance, having previously been Head of Compliance at Brevan Howard Asset Management LLP.
  • Graeme Pollok has joined WH Ireland as Interim Head of Compliance, having previously been Head of Compliance at Union Bancaire Privee.
  • Asset management firms and hedge funds continue to build out and strengthen their compliance and regulatory teams in line with heightened legislative and regulatory change across the globe. Key regulation affecting them includes UCITS V and MiFID 2.
    • Emma Browning joined Baring Asset Management as Head of Compliance, having previously held a senior compliance role with Ignis Asset Management.
    • Helen Richards joined Pemberton Asset Management as Head of Compliance, having previously held the same role at Neuberger Berman.

Other

  • Jeff Horvath was appointed Chief Compliance Officer at Fitch Ratings. Prior to this he was with Deutsche Bank, where he spent 14 years in senior compliance roles in the US and Europe.
  • Keith Falconer joined CMC Markets as Global Head of Compliance. Prior to this he was CRO for Standard Life Wealth, Head of Risk & Compliance for Standard Life investments and Group Head of Financial crime for Standard Life.
  • Tracy Calder, former Chief Compliance Officer for JPMorgan Securities has joined LPL Financial.
    • Sharyn Handelsman, former Chief Compliance Officer for LPL Financial has joined the compliance team at UBS Wealth Management.

Interim

  • MiFID II continues to receive much focus. The FCA issued its first consultation paper on MiFID II in December 2015, with additional papers expected this year. As these proposals and plans are revealed, firms within the industry are increasingly seeking expert interim support and guidance to navigate the changes and challenges presented.
  • Accountability is also receiving much attention across the industry, with firms seeking interim governance expertise to help implement the necessary changes brought about by SMR and Conduct Rules.
  • Following publication of the new European money laundering directive, AML remains a hot topic across the industry. Expert interims are being called upon to assess and improve firms’ processes and controls around AML and KYC. More broadly, there continues to be strong demand for senior Financial Crime interims.