Standard Chartered Strengthens Financial Crime Compliance And Legal Functions

Asia and emerging markets focused Standard Chartered PLC has made several senior appointments to its Financial Crime Compliance and Legal functions. The new appointments to Financial Crime Compliance (FCC) under John Cusack, global head of FCC and money laundering reporting officer, include the following:

Steve Munro, head of Sanctions Compliance, based in New York and reporting to Cusack. He joins from GE Capital where he was global anti money laundering (AML) leader, a role which includes responsibility for sanctions. Previously Steve held senior financial crime positions with Société Générale and served as deputy chief counsel for the US Treasury's Office of Foreign Assets Control and as a US military intelligence officer.

Carmel Speers, head of FCC for the Middle East, North Africa and Pakistan (MENAP), based in Dubai. Carmel joins from JP Morgan Chase in the UK where she has more than 25 years of professional experience. She reports to Jeremy Trevis, regional head of Legal and compliance for MENAP, and to David Howes, deputy head of FCC.

David Clark, head of FCC Surveillance Analysis and Academy. He joins from GE Capital where he was head of international financial crime compliance. Previously, David held senior financial crime positions with Barclays, ABN Amro and HM Revenue Customs & Excise. He will be based in London, reporting to Markus Schulz, head of FCC controls.

“These appointments bring significant experience and additional talent to the function, supporting our drive to combat financial crime and further enhance our compliance programmes,” said John Cusack.

In addition, Duncan Wales will join Standard Chartered in September as deputy general counsel. He will be based in London and will assist David Fein, Group general counsel, in managing the Group’s legal affairs.

Duncan joins from ICAP plc, where he served as group general counsel since 2008. Prior to that position, he occupied a number of senior roles within ICAP, including director of government affairs, general counsel for EMEA and Asia and senior counsel to the electronic broking division. Prior to its acquisition by ICAP in 2003, Duncan was director of legal affairs at BrokerTec. He began his career as a solicitor at Clifford Chance and served as in-house counsel at ING Barings Ltd.

Commenting on the appointment, David Fein said: “Duncan brings with him a wealth and breadth of experience of running a global legal function, across a number of jurisdictions and geographies. I look forward to welcoming Duncan to the team.”

In recent months Standard Chartered has taken a number of significant steps in support of its strategic priorities around financial crime: formation of a board-level Financial Crime Risk Committee whose members include global leaders in intelligence and security, law enforcement and payments processing; a nearly five-fold increase in headcount and new senior leadership in Financial Crime Compliance; and membership in the Wolfsberg Group of International Financial Institutions and the Joint Money Laundering Intelligence Taskforce, a national financial crime prevention alliance of UK banks, police and law enforcement and key government bodies.



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