By Nivedita Balu
TORONTO (Reuters) – TD Bank has hired Georgia Stavridis from Royal Bank of Canada to become vice-president of financial crimes risk management, a newly created role, three sources told Reuters.
She was named chief compliance officer for HSBC Bank Canada in 2020 and moved to RBC earlier this year after it acquired HSBC’s domestic division for $10 billion.
Stavridis will be charged with strategy, performance and results for the Financial Intelligence Unit in Canada.
In October, TD Bank became the largest bank in U.S. history to plead guilty to violating a federal law aimed at preventing money laundering, agreeing to pay more than $3 billion in fines to resolve charges to solve.
As part of the process to shore up its compliance and risk program, TD has hired a number of senior executives, including Herb Mazariegos, BMO’s Chief Global Anti-Money-Laundering Officer, senior officials from the U.S. Federal Bureau of Investigations and the US Department of Homeland Security. , Marcy Forman and Jacqueline Sanjuas of Citi, and several others.
In 2013, HSBC Holdings Plc was fined $1.92 billion by federal and state investigators in the U.S. on charges of violating rules designed to stop money laundering and thwart transactions with countries under U.S. sanctions.
Several HSBC executives have left RBC since the six-month guarantee to retain them expired in September.
(Reporting by Nivedita Balu in Toronto; Editing by Chris Reese)
