Standard Chartered has announced the appointment of three external advisor members to its Board Financial Crime Risk Committee.
The three external advisors are outstanding leaders in their fields and will bring valuable insight and a wealth of experience to the Committee.
The external advisor members are:
Lazaro Campos, former chief executive officer of the Society for Worldwide Interbank Financial Telecommunication (“SWIFT”), a member-owned cooperative for the secure exchange of financial messages;
Boon Hui Khoo, former president of INTERPOL, senior deputy secretary in Singapore’s Ministry of Home Affairs and commissioner of the Singapore Police Force; and
Frances Townsend, former assistant to the U.S. President for homeland security and counterterrorism.
The appointments are for two-year terms and additional advisors may be announced at a later date. Further biographical information on each advisor is provided below.
Formation of the Committee was announced in December last year as part of the Group’s strategic priority of combating financial crime and continuing to invest in its conduct and compliance capabilities. The Committee’s responsibilities include oversight of the Group’s policies, procedures, systems, controls and assurance for its anti-money laundering, sanctions compliance, corruption and tax crime prevention efforts. It also has oversight of the Financial Crime Risk Mitigation Programme (a Group-wide initiative to identify and embed best practices), and the Group’s commitments under its 2012 and 2014 U.S. regulatory settlement agreements.
The Committee is chaired by Simon Lowth and in addition to the advisors its members are Christine Hodgson, Naguib Kheraj, Ruth Markland and Lars Thunell, each of which is an existing independent non-executive director of the Group.
Sir John Peace, Chairman of Standard Chartered PLC said: 'We are extremely pleased with the calibre of these advisors and look forward to having the benefit of their vast and varied experience in global payments, law enforcement, security and intelligence. Their appointments are a clear signal of how important financial crime compliance is to Standard Chartered and how serious we are about getting it right'.