Barclays Wealth, the private client arm of UK bank Barclays, has recruited Dominic Stearns from Citigroup as managing director and global head of compliance. Also joining Citigroup is Carmen Menendez-Puerto, who has been appointed managing director, head of financial crime, Barclays Wealth Americas.

These hires come at a time when compliance issues are high on the agenda for clients, firms and regulatory bodies in the aftermath of the financial crisis. Barclays Wealth said it has experienced rapid geographical growth over the last 12 months and these senior compliance appointments reflect the heightened importance of effective governance in light of the increased complexity of multi-jurisdictional operations.

Mr Stearns was latterly global chief compliance officer for Citigroup’s private banking activities – a role he had held since 2005, having joined the firm from SG Warburg in 1995.

While at Citigroup, Ms Menendez-Puerto led the firm’s global anti-money laundering programme across all wealth management activities. In her new New York-based role she reports to Alan Williams, Barclays Wealth’s global head of financial crime.

“One of the prerequisites of success for our business is the maintenance of ‘best in class’ standards.  Their experience will significantly help us deliver this whilst further enhancing the growth potential of the firm,” said Thomas Kalaris, chief executive of Barclays Wealth.