By PAUL O’DONOGHUE, Senior Correspondent
THE Wolfsberg Group has appointed Stevenson Munro as Co-Chair and added Rachel Sloan to its Management Committee.
Stevenson Munro succeeds Jennifer Shasky Calvery, Group Head of Financial Crime at HSBC, who has completed her mandate as Co-Chair.
Emma Molvidson, the Group’s current Co-chair and an executive at UBS, said the appointments come at a critical time for the industry. “Steve and Rachel bring exceptional and complementary expertise to the Group,” she said.
Reflecting on her tenure, Calvery said: “It has been an honour to have a turn at leading such a respected organisation.” She added: “As I hand the baton to Steve, I do so confident in his leadership for the next stretch.”
Stevenson Munro
Munro is Global Head of Financial Crime Risk at Standard Chartered Bank. He oversees the bank’s global approach to managing financial crime risk.
His responsibilities include anti-money laundering, sanctions, anti-bribery and corruption, and fraud. He joined the bank in 2015 and previously served as Global Head of Sanctions Compliance.
He also served in several senior public sector roles, includng as Deputy Chief Counsel at the U.S. Treasury Department’s Office of Foreign Assets Control, where he supported the design and implementation of U.S. economic sanctions regimes.
Rachel Sloan
The Wolfsberg Group has also appointed Rachel Sloan to its Management Committee. Sloan is BSA Officer and Head of the Global AML Program at Citi. Before joining Citi, she held senior financial crime compliance roles at State Street Bank and Trust Company and Deutsche Bank AG.
She previously worked as a Partner at Deloitte Financial Advisory Services. She advised financial institutions on AML consent order remediation and the modernisation of AML frameworks.
Tracey McDermott, a member of the Management Committee, said the appointments show the Group’s ability to draw on deep industry expertise “to drive greater effectiveness” in tackling financial crime.
Ned Conway, Executive Secretary of the Wolfsberg Group, said the changes come “at a pivotal moment for the industry.” He added that Munro’s and Sloan’s experience would strengthen the Group’s response to emerging risks and support deeper public-private collaboration.
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