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DB appoints heads of compliance and financial crime

Chris Hamblin, Editor, London, 15 April 2016

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Deutsche Bank has appointed Pamela Root as global head of compliance and group chief compliance officer, replacing Nadine Faruque, who left last month for "personal reasons."

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, reporting 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, Hazelwood 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.

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 more than €1.6 trillion in assets as of the end of 2015.

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