12 October 2017

By Carolyn Cohn, Roopal Verma, REUTERS

Barclays’ chief compliance officer Michael Roemer is leaving to take up the same role at US bank Wells Fargo (WFC.N), the two banks said on Thursday.

Roemer will leave Barclays at the end of this month, the British bank said in a statement, while Wells Fargo said in a separate statement he would join the U.S. firm in January 2018.

“Hiring a leader with Mike’s credentials is an important step in our commitment to building a stronger compliance function and a better Wells Fargo,” Wells Fargo CEO Tim Sloan said.

The San Francisco-based bank is the third-largest U.S. bank by assets.