The executive shuffle comes at a pivotal time for Amex, which was hit this month with regulator penalties over anti-money laundering compliance failures.
The executive shuffle comes at a pivotal time for Amex, which was hit this month with a $350 million civil penalty and enforcement actions from the Federal Reserve and the Office of the Comptroller of the Currency over anti-money laundering compliance failures.
Given her experience, Richard “understands risk from both a regulatory and business perspective and has spent her career helping companies navigate change and growth while maintaining a strong control environment,” Squeri said in Thursday’s memo.
“Throughout her career in banking, Jodi has demonstrated that risk management should be an effective partner to the business, and that while the need to innovate and grow is important, what is even more critical is taking the right risks responsibly,” the CEO wrote. “This is imperative to protecting our customers and our company while enabling the business to move forward.”
In her new role, Richard will be based in New York and join Amex’s executive committee, Squeri said. Amex’s current risk chief, Doug Tabish, will become president of enterprise shared services in February, after the current executive in that role, Denise Pickett, retires, Squeri said in a memo issued Wednesday.
Richard’s resignation from U.S. Bank “was not due to any disagreement with the Company on any matter relating to the Company’s operations, policies or practices,” the SEC filing noted.
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