Michael Welch, formerly of the US federal Bureau of Investigations, has been recruited by the Financial Conduct Authority to head its retail and regulatory investigations efforts.
His hire comes as banks make financial crime-fighting an increasing priority, in some cases paying huge packages for qualified executives. Bankers report increasing signs of jealousy among their firms, as compliance departments win significantly higher salaries – and first bite of resources – in the drive for a regulatory clean-sheet.
Mr Welch, who ran the FBI’s international operations, was formerly with Standard Chartered whe...