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- Goldman to Launch $5bn Fund with China Investment Corp.
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- Barclays Fails to End U.S. 'Dark Pool' Class Action
- Goldman Sachs' Chief Risk Officer, Craig Broderick, to Retire
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- New Jersey’s Next Governor Could Be a Democrat Who Worked at Goldman Sachs
- FINRA New York Region Networking Seminar - December 1st
- SEC Approves “Pay-to-Play” and Related Rules for Capital Acquisition Brokers
- Hedge Fund Giant Paul Singer Targeted for Destruction by Steve Bannon
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NEWSLETTERS & ALERTS
Deutsche Bank Continues Its AML Shake-Out, Build-Up: Brings In Richard Weber, Irwin Nack
Deutsche Bank is moving at a fast and furious pace to repair its troubled Anti-Money Laundering operation in the wake of numerous settled and ongoing government investigations. To that end, Deutsche Bank announced the following:
- Richard Weber joined the bank as Managing Director and Head of Anti-Financial Crime (AFC) for the Americas.
- Irwin Nack joined the bank as Managing Director and Deputy Head of AFC for the Americas.
- Deutsche Bank added 170 employees in the AFC division in 2016, and expects to hire over 600 additional staff in 2017.
RICHARD WEBER PROFILE. Weber started on June 26, and will report to: (i) Philippe Vollot, Global Head of Anti-Financial Crime & Group Anti-Money Laundering Officer, and (ii) Stuart Clarke, COO for the Americas. He’ll also join the Global AFC Executive Committee.
Weber has more than 25 years of experience and is regarded as an expert on financial crime matters. He is the recipient of the 2015 Presidential Rank Award, the highest civil service recognition that is awarded in the federal government. He is also a 2-time recipient of the Attorney General’s John Marshall Award, the highest honor for Justice Department lawyers.
His career profile, according to LinkedIn is, as follows:
- Deutsche Bank: Managing Director, Americas Head of Anti-Financial Crime (2017– ).
- IRS: Chief, Criminal Investigation (2012–2017 )
- Oversee a worldwide staff of approximately 4,000 employees, including 2,600 special agents who investigate potential criminal violations of the IRC and related financial crimes, including money laundering, public corruption, narcotics trafficking, cyber, BSA and terrorist financing.
- Manhattan District Attorney's Office: Deputy Chief, Investigation Division and Chief, Major Economic Crimes Bureau (2010–2012)
- U.S. Department of Justice: Chief, Asset Forfeiture and Money Laundering Section (2005–2010)
IRWIN NACK PROFILE. Nack started at the bank in May and will report to Weber. Nack joins DB from the Bank of Tokyo-Mitsubishi UFJ where he most recently was Head of Global Financial Crimes Advisory. He was previously the bank's CCO for the Americas, a role he assumed after serving as Head of BSA/AML for the Americas.
Nack has more than 20 years of anti-financial crime experience and is an expert in AML. Earlier in his career, he served as Investigative Counsel for the NYS Banking Department, the predecessor agency to the NYSDFS and was as a prosecutor in the Manhattan DA’s Office (where he spent 5).