Deutsche Bank names Philippe Vollot as new anti-financial crime chief

Germany's Deutsche Bank headquarters are pictured in Frankfurt, Germany, October 5, 2016. REUTERS/Kai Pfaffenbach

FRANKFURT (Reuters) - Deutsche Bank has named Philippe Vollot as its new head of fighting financial crime, it said, replacing Peter Hazlewood who is leaving the post after just six months.

Vollot, previously the lender’s Chief Operating Officer for regulation, compliance and anti-financial crime, has been with Germany’s biggest bank for more than 13 years, the bank said on Thursday in an internal memo seen by Reuters.

Deutsche Bank wants to raise the number of staff in anti-financial crime operations by around 50 percent this year to more than 1,150 people, it said.

Germany’s biggest bank is seeking to settle money-laundering allegations in Russia, faces further investigations into alleged U.S. sanction breaches in Iran and elsewhere, and into suspected manipulation of foreign exchange rates.

Reporting by Alexander Huebner. Writing by Andreas Cremer.