July 30, 2018 / 8:43 AM / 4 months ago

Standard Chartered names McDermott as head of compliance

FILE PHOTO: A Standard Chartered bank branch in Singapore October 11, 2016. REUTERS/Edgar Su/File Photo

LONDON (Reuters) - Standard Chartered (STAN.L) has appointed Tracey McDermott as group head of compliance, the bank said on Monday, after the previous holder of the role Neil Barry left the bank in June following an investigation into his behaviour.

McDermott will take up her new role in addition to existing duties as head of corporate affairs, brand and marketing, StanChart said.

StanChart’s global head of financial crime, John Cusack, is also stepping down at the start of next year to move into a part-time consultancy role at the bank, a source familiar with the matter told Reuters.

The source said this was not related to the bank’s U.S. deferred prosecution agreement (DPA) being extended until the end of December this year.

Reporting by Lawrence White and Emma Rumney, editing by Louise Heavens

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