Deutsche Bank Crime Fighter Said to Step Down After Six Months

  • Peter Hazlewood took anti-financial crime role in July
  • Hazlewood likely to stay with Deutsche Bank in different role

Deutsche Bank AG’s global head of anti-financial crime and group money-laundering reporting officer, Peter Hazlewood, will step down only six months after assuming the post, a person familiar with the matter said.

Hazlewood will probably stay with Deutsche Bank in a different role, said the person, who asked not to be identified because the information isn’t public. Hazlewood joined Deutsche Bank in July, after previously working at lenders including JPMorgan Chase & Co. and HSBC Holdings Plc.

Deutsche Bank declined to comment. Hazlewood couldn’t immediately be reached.

Chief Executive Officer John Cryan is trying to resolve the bank’s remaining legal battles, following a $7.2 billion settlement with the U.S. over its role in the sale of mortgage securities in the run-up to the 2008 financial crisis. Deutsche Bank is still being probed by U.S. and U.K. authorities over whether it failed to catch transactions that may have moved billions of dollars out of Russia from 2012 to 2015, people familiar with the matter have said. 

After settling the U.S. case last month, Cryan said in a memo to staff that an internal investigation by the bank had found “no indication of a breach of sanctions” in Russia. The probe did detect “deficiencies” in the bank’s systems and controls that were being addressed, according to the memo.

Hazlewood currently reports to Deutsche Bank’s chief regulatory officer, Sylvie Matherat. News that he was stepping down was reported earlier Wednesday by Manager Magazin.

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