- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Aaron Nicodemus2023-01-18T22:18:00
Deutsche Bank named Laura Padovani to be its next group chief compliance officer and head of compliance, effective April 1.
Padovani, who spent the last five years as group CCO at Barclays, will replace Pascal Tagné at Deutsche Bank. Tagné will continue as group CCO until Padovani takes over, according to an internal memo signed by Deutsche Bank Chief Administrative Officer Stefan Simon and seen by Compliance Week. Padovani will be based in London.
Tagné will relocate to Singapore and become the bank’s head of compliance for the Asia Pacific region as well as head of corporate bank compliance.
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Deutsche Bank was assessed a penalty of €170,000 (U.S. $180,000) by Germany’s financial supervisory authority for failing to timely submit suspicious transaction reports.
Deutsche Bank said it is about “two-thirds” of the way toward meeting Germany’s financial regulator’s demands for tighter controls to combat money laundering and terrorist financing—an area of weakness many banks across the European Union are confronting.
Deutsche Bank agreed to pay $26.25 million to settle a class-action lawsuit filed by a group of the bank’s investors over anti-money laundering compliance failures and deficiencies related to certain clients, including Jeffrey Epstein and Danske Bank’s Estonia branch.
