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- Sarah ten Siethoff is New Associate Director of SEC Investment Management Rulemaking Office
- Catherine Keating Appointed CEO of BNY Mellon Wealth Management
- Credit Suisse to Pay $47Mn to Resolve DOJ Asia Probe
- SEC Chair Clayton Goes 'Hat in Hand' Before Congress on 2019 Budget Request
- SEC's Opening Remarks to the Elder Justice Coordinating Council
- Massachusetts Jury Convicts CA Attorney of Securities Fraud
- Deutsche Bank Says 3 Senior Investment Bankers to Leave Firm
- World’s Biggest Hedge Fund Reportedly ‘Bearish On Financial Assets’
- SEC Fines Constant Contact, Popular Email Marketer, for Overstating Subscriber Numbers
- SocGen Agrees to Pay $1.3 Billion to End Libya, Libor Probes
- Cryptocurrency Exchange Bitfinex Briefly Halts Trading After Cyber Attack
- SEC Names Valerie Szczepanik Senior Advisor for Digital Assets and Innovation
- SEC Modernizes Delivery of Fund Reports, Seeks Public Feedback on Improving Fund Disclosure
- NYSE Says SEC Plan to Limit Exchange Rebates Would Hurt Investors
- Deutsche Bank faces another challenge with Fed stress test
- Former JPMorgan Broker Files racial discrimination suit against company
- $3.3Mn Winning Bid for Lunch with Warren Buffett
- Julie Erhardt is SEC's New Acting Chief Risk Officer
- Chyhe Becker is SEC's New Acting Chief Economist, Acting Director of Economic and Risk Analysis Division
- Getting a Handle on Virtual Currencies - FINRA
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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).