Deutsche Bank AML Chief Resigns After Six Months; Replacement Imminent

Josh O'Neill

5 January 2017

Following media reports that 's anti-money laundering chief, Peter Hazlewood, has left the position after just six months, a source familiar with the matter at the bank confirmed his departure to WealthBriefing and said that his replacement could be named as soon as next week.

The German banking behemoth last month was ordered to pay more than $40 million to terminate US government investigations into so-called “dark pool” private trading venues. It is also seeking to settle money laundering allegations in Russia.

Germany's Manager Magazin, which earlier this week reported the news of Hazlewood's planned departure, said he took a more aggressive approach than his manager, global compliance officer Sylvie Matherat.

The source said that Hazlewood, who has previously worked at HSBC, JP Morgan and Standard Chartered, “is likely to relocate internally” and that his replacement “could be named as soon as next week”.

Year-on-year, investment in staffing for Deutsche Bank's anti-financial crime department has increased 51 per cent, the source added.