Udo Witte, global head of anti-money laundering prevention at WestLB, is to retire by the end of the year. Witte joined WestLB in 1970 and spent time in different departments, including audit and operations, and as assistant of the chairman. He has been in his current post in Düsseldorf, Germany, for five years and reports to Chief Executive Thomas Fischer. "It has been a good time for me," Witte said. He said his replacement is yet to be decided upon, and an internal appointment from the AML team is possible. Witte added he has already received requests related to consulting, but would decide on his plans later.
Witte's departure will follow that of Antony Whitehouse, U.K. group money laundering reporting officer, who is leaving next month to head the compliance department at Calyon Credit Agricole, a hedge fund in London (CR, 12/19).