After six years at Saxo Bank, compliance specialist David McCurdie has been appointed VP Senior KYC Specialist at BNY Mellon.
Based in London, Mr. McCurdie’s new position elevates him to an executive role, building further on experience gained in his final role at Saxo Bank’s London-based subsidiary, Saxo Capital Markets.
Mr. McCurdie joined Saxo Bank in 2008 as a Senior Officer in Copenhagen, in which he conducted compliance procedures and due diligence on individuals, non-personal entities, including complex corporate structures, trusts and funds for trading accounts.
Two years ago, Mr. McCurdie began to specialize in KYC procedures. KYC, an acronym for ‘Know Your Client’ is a term used by the Financial Conduct Authority (FCA) for ensuring that full checks have been done as to whether the client is in a suitable financial condition to invest in the financial product being offered, as well as other factors such as whether the client is educated enough and aware as to how to manage the financial product.
Specific checks are mandatory in order to ascertain client/product suitability, with KYC having been brought into the regulatory criteria in the early 1990s during the period in which the Financial Services Authority was responsible for all non-bank financial markets activity in Britain.
Combining his love of music with his eye for detail in ensuring business is being carried out in accordance with the rules, Mr. McCurdie was promoted in June last year to Senior KYC Analyst at Saxo Capital Markets, meaning a return to London from Copenhagen, and the ability to play guitar and sing at a prominent London venue in addition to his responsibilities at Saxo Capital Markets.
Having said a fond farewell to his colleagues at Saxo Capital Markets this morning, Mr. McCurdie considers his long standing career at the company to have provided him with vast experience in anti money laundering and KYC proecures, particular with regard to non-personal entities.
He considers Saxo Bank to have provided him with an excellent insight into a variety of aspects of investment banking, which is likely to stand him in good stead in his new executive role at BNY Mellon.