Deutsche Bank’s global head of anti- financial crime and group money-laundering reporting officer, Peter Hazelwood, is standing down six months after being appointed to the position last July. Hazelwood, who was based in Frankfurt, reported to the bank’s regulatory chief, Sylvie Matherat and according to reports his replacement will be named within the next few weeks. The Wall Street Journal said that the departure is linked to a budget dispute over Hazelwood’s request to recruit additional staff.
Last month, Deutsche Bank agreed a US$7.2bn penalty with the US Department of Justice to settle allegations of mis-selling mortgage-backed securities and a 5m Swiss franc (SFR) settlement with the Swiss Competition Commission over allegations on involvement in rate-rigging cartels.