Compliance

Key Themes

While senior level hiring in compliance has certainly slowed due to the ongoing pandemic, some major changes have happened at two of the largest US based banks. Both Citi and Goldman Sachs had their global compliance heads step down and they have promoted from within. Additionally, financial crime leaders from Barclays, Credit Suisse and UBS made interesting moves out of the banking sector, taking on senior roles in professional services, fintech and government.

While the traditional view has been that compliance needs be accessible in person to the business, going forward there is a feeling that regulatory and firm expectations may change. In light of new technology and the success of many firms with remote working, firm leaders are rethinking remote working options and the use of lower cost locations for their compliance departments.

Key Compliance Moves: Q2 2020

EMEA: 

  • Dr. Wolfgang Bartels joins Daimler as Chief Compliance Officer from Mercedes-Benz, where he was Head of Legal. He succeeds Olar Schick, who was appointed Chief Financial Officer of Daimler Greater China.
  • Geraldine Lawlor joins KPMG as Global Head of Financial Crime from Barclays, where she was Group Head of Financial Crime
  • Sterling Daines joins Libra as Chief Compliance Officer from Credit Suisse, where he was Head of Financial Crime Compliance.
  • Claire Foster joins LSE as Head of Regulation and Compliance from Deutsche Bank, where she was EMEA Head of Markets Compliance.
  • James Freis joins Wirecard as Chief Compliance Officer from Deutsche Börse AG, where he was Head of Compliance.

US:

  • Uma Amuluru becomes Chief Compliance Officer for Boeing, where she was previously Assistant General Counsel. She succeeds Diana Sands, who is retiring after 20 years.
  • Mary McNiff joins Citigroup as Chief Compliance Officer from Citibank N.A., where she was Chief Executive Officer. She succeeds Mark Carawan, following his retirement.
  • Antonio Alvarez joins Crypto.com as Chief Compliance Officer from Coinbase, where he was an Anti-Money Laundering executive.
  • Michael Richman becomes Chief Compliance Officer for Goldman Sachs for the Investment Management Division, where he was previously Deputy Chief Compliance Officer and Global Head of Compliance. He succeeds Sarah Smith, who is stepping down. Richman reports to Kathryn Ruemmler. Ruemmler joins Goldman Sachs as Global Head of Regulatory Affairs from Latham & Watkins, where she was Chair of the White Collar Defense & Investigations Practice and a Partner in the Litigation & Trial Department.
  • Richard Weber joins the New York State Department of Financial Services as General Counsel from UBS, where he was Head of Financial Crime Prevention for the Americas.

Asia:

  • Srilata Krishnan joins Aon as Regional Compliance Director, Asia from Zurich Insurance Company, where she was Compliance Manager, APAC.
  • Niall Grady joins FWD Insurance as Group Chief Compliance Officer from Prudential Corporation, where he was Chief Compliance Officer, Asia.
  • Rayson Tan joins Revolut as Chief Compliance Officer, Chief Risk Officer and Head of Legal from Credit Suisse, where he was Managing Director and Deputy Head of Financial Crime Compliance.
  • Donald Abraham Silas joins Visa as Director, Anti-Money Laundering Compliance from Bank of America Merrill Lynch, where he was Country Head of Financial Crime Compliance.

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