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DTCC Names Chief Compliance Officer
Mihal Nahari
Mihal Nahari, a financial services industry veteran with expertise in regulatory and risk management, has joined DTCC as chief compliance officer. Nahari’s appointment, effective November 19, 2007, signals the growing importance of regulatory compliance matters in the U.S. financial sector.
In her new position, Nahari has enterprise-wide responsibility for compliance activities at DTCC, focusing principally on anti-money-laundering (AML), USA PATRIOT Act, Bank Secrecy Act and record retention requirements. She brings added leadership and focus to the longstanding compliance programs in place at DTCC and its subsidiaries.
At the forefront
“As vital players in the financial industry, DTCC and our subsidiaries must be at the forefront in meeting the highest standards on regulatory and compliance issues,” said Donald F. Donahue, DTCC chairman and CEO. “Mihal’s appointment signals our commitment to expand and accelerate development and implemen-tation of all aspects of DTCC’s compliance programs. Bringing on someone of her expertise to achieve this goal is consistent with best practices in our industry today.”
Nahari reports to DTCC General Counsel Larry Thompson. She also has dotted-line responsibility to Donahue and to the chairman of the DTCC Board of Directors’ Compliance and Operational Risk Committee on AML and compliance issues.
Depth of industry experience
Nahari has nearly 20 years of experience in the financial services industry on a wide range of domestic and international legal, compliance and regulatory risk management issues. Most recently, she was a partner with New York law firm Bressler, Amery & Ross, P.C. Prior to that, at Bank of America Corp-oration, Nahari was senior vice president and AML executive with responsibility for overseeing and implementing AML compliance and risk mitigation strategies across the bank’s global business. In her eight years at Morgan Stanley, Nahari established one of the banking sector’s first global AML and Office of Foreign Assets Control compliance programs. Later she served as Morgan Stanley’s global AML officer and chief compliance officer for retail and high-net-worth brokerage operations.
Nahari is a past co-chair of the AML committee of the Securities Industry and Financial Markets Association (SIFMA) and served as the industry’s representative to the U.S. Treasury Department Bank Secrecy Act Advisory Group.
Nahari is a graduate of the Fordham University School of Law and earned a bachelor’s degree in economics and Spanish from Rutgers University. @