Deutsche Bank Heads into H2 2016 With Revamped Compliance Team

The personnel changes at Deutsche Bank have shown no signs of abating, as the lender has unveiled a revamped compliance team that will see the appointment of Pamela Root and Peter Hazlewood, Finance Magnates has learned.

Ms. Root will join Deutsche Bank as its Global Head of Compliance with Mr. Hazlewood assuming the role of Group Chief Compliance Officer. Both individuals are expected to step into their new respective roles on June 6, and July 6, 2016.

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In her new role as the Global Head of Compliance at Deutsche Bank, Ms. Root will be based out of London, where she will report to Sylvie Matherat, the group’s Chief Regulatory Officer and Member of the Management Board. She joins Deutsche Bank from Citigroup after what has been a seven-year tenure – in this capacity she has worked as its Chief Compliance Officer for the Global Institutional Clients Group.

Prior to her role at Citigroup, she has also garnered senior level roles in the compliance realm at Goldman Sachs, dating all the way back to 1986. Amongst her many roles at Goldman, Ms. Root worked as the General Counsel to Global Compliance. She will be succeeding Nadine Faruque who recently parted ways with Deutsche Bank for personal reasons last month.

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Mr. Hazlewood will join Deutsche Bank in July and will oversee multiple operations at the lender. This includes roles as its Global Head of Anti-Financial Crime and Group Money-Laundering Reporting Officer, whilst being based out of Frankfurt – like Ms. Root, he will also be reporting to Matherat.

Mr. Hazlewood comes to Deutsche Bank after cutting his teeth as a financial crime specialist for nearly three decades. This included roles at HSBC, JP Morgan, DBS and Standard Chartered, in each of which he held senior global anti-financial crime positions. In addition, he has worked in a variety of regulatory jurisdictions and locales, including Hong Kong, Singapore, London, New York, and Bahrain. Mr. Hazlewood will succeed Ulrich Göres who left Deutsche Bank back in January this year.

According to Matherat in a recent statement on the appointments: “Robust and effective controls are essential to our business practice. 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.”