Standard Chartered announced Tuesday that Tracey McDermott, Group Head of Conduct, Financial Crime and Compliance (CFCC), will be retiring from the company on December 31, 2024.
Standard Chartered’s Head of CFCC Tracy McDermott to Retire
McDermott has been with Standard Chartered since March 2017, holding various leadership roles, including Group Head of Corporate, Public and Regulatory Affairs, and taking on responsibility for Compliance and Financial Crime in subsequent years.
To fill McDermott’s position, Standard Chartered has appointed David Howes as Group Head, Compliance, Financial Crime and Conduct Risk (CFCR), effective January 1, 2025.
Howes will report to Sadia Ricke, Group Chief Risk Officer. With over 26 years of industry experience, Howes currently serves as Global Head, Financial Crime Compliance and Compliance Frameworks.
Bill Winters, Group Chief Executive, Standard Chartered, expressed his gratitude for McDermott’s contributions to the company’s leadership and her guidance on various matters.
Winters highlighted her role in leading the Conduct, Financial Crime and Compliance function through significant changes and development.
“[Tracy McDermott] has brought her prior experience in legal and regulatory affairs to bear on a range of issues for the benefit of the group and more broadly as part of her work in driving forward the sustainability agenda,” commented Winters.
With the leadership of Sadia Ricke and David Howes, Standard Chartered’s Risk and CFCR functions will continue to work closely with the company’s businesses to identify opportunities and manage risk, compliance, and financial crime matters effectively.
