PRESS RELEASE: London – 8:00 am, Tuesday, 23rd March, 2021:
Plenitude, the Financial Crime, Risk and Compliance specialists offering advisory, transformation services and innovative RegTech products, has appointed Barbara Patow as Senior Advisor. Barbara will play a key role in providing advice and assisting clients with enhancing their Financial Crime Compliance (“FCC”) control frameworks in order for them to more effectively manage financial crime risk. She will also help guide the business strategy and growth plans for Plenitude.
Illicit finance supports some of the worst problems facing society today including: terrorism, human trafficking, drugs trafficking and illegal arms dealing – and more needs to be done to identify and stem the flow. Significant steps have been taken by regulators and the combination of heightened regulatory scrutiny and increased enforcement actions means it has never been more important for organisations to meet their legal and regulatory obligations.
Plenitude works with a wide array of financial institutions across the world, providing deep subject matter expertise, advisory and transformation services on some of the largest and most complex FCC initiatives in the industry. Beyond helping clients mitigate FCC risk, Plenitude improves the productivity of compliance divisions through the use of innovative technology to automate, streamline compliance workflows and provide enhanced insight into the vast array of FCC laws, regulations, guidance and risk indicators.
Having worked in the banking industry for over 30 years, Barbara Patow has extensive knowledge of financial crime risk and operational management. Prior to joining Plenitude, Barbara held senior leadership roles at HSBC in the Financial Crime & Compliance Divisions, including Global Head of AML and Global Head of FCC for Global Banking and Markets. She was also the Head of Correspondent Banking and Chief Operating Officer for the Global Liquidity and Cash Management business developing and implementing FCC control frameworks.
Commenting on the announcement, Barbara Patow said: “Combating Financial Crime is a priority in our society. Our clients’ transformation programmes are not just about the practical implications of implementing FCC frameworks but an organisation-wide effort to drive cultural change to enhance the understanding that everyone has a part to play in managing this risk. Plenitude’s work offers a compelling opportunity to make a real and important difference to our clients’ transformation.”
Alan Paterson, Plenitude Managing Director, added: “We are delighted to welcome Barbara onboard as a Senior Advisor given her extensive FCC industry experience and expertise. Barbara will play a key role in terms of providing strategic advice and guidance on our business strategy and growth plans, alongside serving our clients with first rate advice. We are confident that both Plenitude and our clients will benefit from Barbara’s extensive experience and honored that we have been able to secure Barbara as part of the team during this important growth phase for Plenitude.”
Plenitude is expanding its technology offering and last month launched RegSight, a cloud-based platform to identify and manage FCC obligations, improve operational efficiency and ultimately drive more effective financial crime risk management.