Standard Chartered has hired Tracey McDermott, former head of enforcement at the UK financial regulator, to lead its public and regulatory affairs.
McDermott will start next month as a top adviser to chief executive Bill Winters on bank rules and policy, joining the bank’s management team. She has a tough mandate. Standard Chartered has been probed or penalized in the US, Asia and elsewhere for a variety of alleged wrongdoing. In 2012, it admitted to disguising transactions with customers from sanctioned countries and is being investigated over possible further violations.