Libra Association appoints former FinCEN director as general counsel

Today the Libra Association announced the appointment of Robert Werner as its General Counsel. Prior to joined the Libra Association Werner was was the founder and CEO of GRH Consulting and held leadership positions at HSBC, Goldman Sachs, and Merrill Lynch. Previously, Werner served as the Director of the Financial Crimes Enforcement Network (FinCEN), Director of the Office of Foreign Assets Control, (OFAC), Senior Counsel to the Under Secretary of the Treasury, Terrorism and Financial Intelligence, and Assistant General Counsel for Enforcement and Intelligence in the Office of the General Counsel.

Why it matters:

• Two weeks ago the Libra Association named HSBC Chief Legal Officer Stuart Levey as its CEO. The two first hires indicate a heavy emphasis on regulatory compliance
• Libra announcements have picked up in speed significantly this year. The Libra association has announced 5 new members since revealing their revised plan in April