The Bancorp Bank hires new compliance chief
The Bancorp Bank, the wholly owned banking subsidiary of Nasdaq-listed The Bancorp, has hired Randall Baugh as its new managing director and chief compliance officer.
Baugh most recently was the head of E*Trade bank compliance at Morgan Stanley. In that role he was responsible for leading day-to-day compliance activities in addition to bank integration activities following Morgan Stanley’s acquisition of E*Trade in late 2020. At the same time, he was head of Morgan Stanley US bank deposits, marketing and advertising compliance.
According to his LinkedIn profile, Baugh’s previous experience includes spending more than six years as a regulatory consultant at KPMG and spells in compliance at RLJ Financial, Urban Trust Bank and Capital One.
In his new position, Baugh oversees the bank’s compliance management system, including the compliance risk-management program within the bank’s core consumer and commercial deposit and lending services, under the leadership of executive vice president and COO Greg Garry.
Wilmington, Delaware-based The Bancorp through its The Bancorp Bank subsidiary provides services and technology to non-bank financial companies.
Garry says in a statement: ‘The Bancorp is focused on modernizing consumer compliance programs for the rapidly evolving banking landscape where fintechs play a larger role and legacy approaches are becoming quickly outdated. With Randall’s background and expertise in this area, he will help us continue to develop the operational foundation our third-party service providers, partners and clients have come to expect.’