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HSBC Shakes Up AML Compliance Department after Disclosure of ‘Likely’ Penalty
By Brian Monroe
printHSBC USA is restructuring its compliance department in the wake of the disclosure last week that the bank is bracing for a potential fine over Bank Secrecy Act and sanctions violations. HSBC USA's Head of Group Compliance David Bagley announced in a company e-mail that the bank's Anti-Money Laundering Director and Bank Secrecy Act Officer, Wyndham Clark, was stepping down to "pursue other interests." Gary Peterson, the former president of HSBC's International Management Advisory Group, will take over the position until a permanent replacement is found. Jennifer Strybel, HSBC's former Manila, Philippines-based center manager, will serve as senior vice president...
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