Former CIT Exec Cherry Joins Compliance Risk Concepts
Compliance Risk Concepts (CRC) announced the firm’s expansion with the addition of two senior executives: Elin Cherry as principal and head of capital markets and Roland Reyes as director of professional services.
Cherry, who will serve as principal and head of capital markets for CRC, was previously director and head of Business Unit Compliance for CIT Group. There she had responsibility for the U.S. business compliance programs, BUCOs, broker-dealer compliance, and the CIT Bank team. Previously, Cherry was at Societe Generale, where she served as managing director, head of global markets compliance and deputy director to the chief compliance officer. She also worked in senior compliance roles at Deutsche Bank Securities and Banc of America Securities.
Roland Reyes, named CRC’s director of professional services, will be responsible for the business development and execution of compliance engagements. Most recently, he was director at Wells Fargo Securities’ Compliance Department where he was responsible for overseeing the equity derivatives compliance program covering structured products, corporate and equity derivatives, convertible securities, and equity finance sales and trading desks. Prior to Wells Fargo, Reyes worked in compliance at Bear Stearns, JP Morgan, and Salomon Smith Barney.
“In response to evolving compliance regulations and enforcement, we have experienced unprecedented demand for our services,” says Mitch Avnet, founder and managing partner of CRC, a JW Michaels company. “Our business model is based on a unique value proposition: a team of former compliance officers from top firms who now provide compliance consulting services for clients.”