- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Jeff Dale2024-03-04T19:39:00
New York-based Metropolitan Commercial Bank (MCB) announced the appointments of a chief risk officer and Bank Secrecy Act/anti-money laundering (BSA/AML) officer to bolster its reporting lines following a $30 million enforcement action from federal and state authorities last year.
Gregory Gaare, appointed as senior vice president and chief risk officer, and Theodore George Andreades, appointed as senior vice president and BSA/AML officer, will help lead the bank in its “course toward expansion,” said Mark DeFazio, president and chief executive of MCB, in a press release Thursday.
“[MCB] is delighted to welcome [Gaare], a seasoned risk management professional,” said DeFazio. “… Securing the expertise of [Andreades], an experienced BSA/AML officer, is crucial in assembling a robust risk management team capable of navigating today’s and tomorrow’s regulatory landscape.”
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New York Community Bancorp, a mid-sized bank struggling with precarious commercial loans and troubles with its acquisition of the failed Signature Bank last year, named a new chief risk officer and chief audit executive.
The Industrial and Commercial Bank of China and its New York branch agreed to pay $32.4 million in penalties levied by two regulators for failing to address compliance failures and for the unauthorized disclosure of confidential supervisory information to an overseas regulator.
New York-based Metropolitan Commercial Bank was assessed nearly $30 million in penalties by federal and state banking regulators for failing to properly oversee a third-party program manager whose prepaid cards were a popular target of fraud during the Covid-19 pandemic.
