Daily News: January 14, 2013

Deloitte Adds to Governance, Regulatory & Risk Practice


Deloitte & Touche said it has added Mike Fay and Peter Reynolds to its governance, regulatory & risk strategies (GR&RS) practice. Fay and Reynolds will be part of Deloitte’s financial services industry practice, providing risk and compliance services to Deloitte’s asset management and banking and securities clients.

Fay, a principal in Deloitte’s Boston office, previously served as chief compliance officer for a leading financial services institution. He was responsible for the organization’s global compliance strategy as well as leading a worldwide team of compliance professionals.

“With all of the compliance and regulatory challenges facing companies in today’s market, it’s essential to build your compliance program with the help of experienced advisers,” said Fay, who will serve in a leadership role in asset management for the GR&RS practice. “I look forward to working with the Deloitte team to continue to implement best in class compliance strategies.”

Fay is returning to Deloitte, where previously served 13 years including a leadership role with Deloitte’s asset management practice. Fay is a certified bank auditor and certified risk professional.

“Mike’s wealth of experience in spearheading risk and compliance-based programs is a significant asset to our practice and to our clients,” said Kevin McGovern, national managing partner, governance, regulatory & risk strategies, Deloitte & Touche LLP.

Reynolds, a director in Deloitte’s Parsippany, NJ office, was previously the chief risk officer at Barclays’ Wealth Americas, and responsible for managing the coverage of risk issues across the region, including operational and credit risks.

Previously, Reynolds was chief compliance officer and head of regulatory risk at RBS Americas where he instituted an enterprise wide compliance program consistent with regulators’ expectations and requirements. In addition, Reynolds spent a decade at Citibank holding various risk and regulatory management roles including loan review, audit, corporate workout, and regulatory relations. During his Citibank tenure, Reynolds spent a year in South Korea integrating the risk and compliance organizations for Citibank’s largest Asian acquisition, KorAm Bank. He later served as global head of operational risk for Citibank’s Private Bank.

“Deloitte’s reputation for leading regulatory, risk and compliance services precedes itself and I am truly excited to be joining such a highly respected practice,” said Reynolds.

McGovern adds, “Peter brings an extensive background of more than 30 years of experience, the majority of which lies within the realm of banking and regulatory issues, but is specifically focused on risk and compliance.”