The management of Fondsdepot Bank is pleased to announce the appointment of Jürgen Neumann as Chief Regulatory Officer (CRO) with effect from July 1, 2020. Neumann joined the company in January 2019 as Head of Compliance/Anti Money Laundering/Anti Fraud. Only a short time later, his range of responsibilities at the bank was expanded to include the Legal and Risk Control/Information Security/Data Protection departments with the creation of the new Regulatory Affairs department.

Initially, Neumann, now 52 years old, gained experience in the field of tax consulting and auditing. In 2000 he joined the Auditing Association of German Banks (Prüfungsverband deutscher Banken e.V.), where he took on tasks in the context of deposit protection, annual financial statements and special audits as well as bank settlements. From 2008 to 2016, Neumann held various management positions at Degussa Bank GmbH in Frankfurt in the areas of Compliance/Anti Fraud/Money Laundering, Audit and Legal. The last station before his move to Fondsdepot Bank was the function of Head of Compliance at Caceis Bank S.A. branch in Munich (Credit Agricole Group).

As CRO, Neumann is now responsible for maintaining an overview of the various regulatory guidelines in the financial sector and implementing them in line with the Fund Depository Bank's own operational business model. Influences on the model must be recognized early on in order to be able to change processes flexibly and act in a legally compliant and comprehensible manner for sales partners and customers.

"Jürgen Neumann is an expert in governance, compliance and corporate law. He has provided excellent support to the Executive Board over the past one and a half years and I am sure that he will be able to advance our company even further in his new role with his knowledge and commitment," says Sabine Dittmann-Stenger, Managing Director and Chief Operations Officer, delighted with Neumann's development.