Germany's largest bank has hired Citigroup's compliance chief and named a new anti-crime executive.
Deutsche Bank has appointed Pamela Root as global head of compliance and group chief compliance officer. She replaces Nadine Faruque, who left last month for “personal reasons”, the lender said in a statement.
Root joins from Citigroup where she was chief compliance officer for the global institutional clients group. She will assume her new London-based role in June. She reports to Sylvie Matherat, chief regulatory officer and member of the management board of Deutsche Bank.
The bank has also appointed Peter Hazlewood as its new global head of anti-financial crime and group money-laundering reporting officer. He succeeds Ulrich Göres, who left the bank in January.
For the past 28 years, Hazlewood has held several senior anti-crime positions at large financial institutions, including HSBC, JP Morgan, DBS and Standard Chartered. He has worked in Hong Kong, Singapore, London, New York and, most recently, Bahrain.
Hazlewood will be based in Frankfurt and will also report to Matherat.
“Compliance and AFC are key functions to ensure that we manage our business activities to high standards at all times. I am very pleased that with Pamela Root and Peter Hazlewood we are gaining two widely respected and very experienced experts to head these important functions,” said Matherat.
In 2015, the bank logged a full-year loss of €6.1 billion ($6.9 billion) after litigation charges of €1.2 billion in the final three months of the year. Last month, the UK's Financial Conduct Authority banned a former Deutsche Bank trader from the financial services industry for rigging dollar-denominated LIBOR rates.
The bank managed over €1.6 trillion in assets as of the end of 2015.