The Libra Association has just announced the appointment of former Financial Crimes Enforcement Network (FinCEN) director, as its general counsel.
Werner has significant experience in regulation, financial crime compliance and enforcement, from his previous work in both the public and private sectors. Prior to joining the association, he was the founder and CEO of GRH Consulting.
Werner has also held other leadership positions at several top-level financial institutions including HSBC and Goldman Sachs, where he was the Enterprise Executive for Policy, Privacy and Regulatory Relations. He has also headed the financial crime compliance for Merrill Lynch.
The newly appointed Libra General Counsel has also served at the highest levels of the U.S. Department of the Treasury. He was the Director of the Financial Crimes Enforcement Network (FinCEN), and Director of the Office of Foreign Assets Control (OFAC). Werner was also the Senior Counsel to the Under Secretary of the Treasury, Terrorism and Financial Intelligence. He has also being an Assistant General Counsel for Enforcement and Intelligence in the Office of the General Counsel.
Speaking on his appointment, Werner said he is grateful for the opportunity to join the association, as they work together to transform the global payments landscape to empower billions of people. He added that, he is looking forward to meaningfully contribute to the Libra project with his extensive background in regulatory issues.
The appointment of Werner comes just 2 weeks after the installation of another HSBC executive and former Under Secretary of the Treasury for Terrorism and Financial Intelligence, Stuart Levey, as the first CEO of the Libra Association. On April 16, 2020, the association also officially began the payment system licensing process with the Swiss Financial Markets Supervisory Authority (FINMA).