WASHINGTON--(BUSINESS WIRE)--Treliant Risk Advisors, a compliance and strategic advisory firm specializing in the financial services industry, announced today that international banking executive Waldo M. Abbot has joined as General Manager and head of Treliant’s New York office. With 35 years of experience in global finance and banking, Mr. Abbot will be in charge of enhancing the compliance and strategic advisory services that Treliant offers to hedge funds, broker dealers, and international financial institutions operating in the U.S.
“New York is the center of international banking and where many of the leading foreign financial institutions have established their U.S. operations,” said Mark W. Olson, Co-Chair of Treliant Risk Advisors and former Federal Reserve Board Governor. “Not surprisingly, the challenges confronting large U.S. banks, hedge funds, and broker dealers today are also being faced by foreign banks, many of which have large U.S. operations. Waldo’s contributions to our clients in this arena will be substantial.”
During Mr. Abbot’s career, he has been the senior U.S. executive for two Fortune 500 foreign banks. In his most recent role, he was the Chief Executive Officer of BNP Paribas Fortis in New York. In May 2009, BNP Paribas acquired a majority interest in Fortis bank SA/NV. Waldo oversaw the integration of Fortis activities into BNP Paribas. Prior to the BNP Parabas/Fortis acquisition, Mr. Abbot was the CEO of Fortis Americas. In that role, Mr. Abbot initiated a 4-year growth plan, which included the build-out of the America’s businesses and multiple acquisitions in physical energy trading, equity & fixed income clearing, fund of funds, and asset management. Prior to joining Fortis, Mr. Abbot was the General Manager of Royal Bank of Canada’s New York office, and the Managing Director of RBC’s Communication & Technology group. He also served on the Board and Executive Committee of RBC Americas.
Prior to his role at Royal Bank of Canada, Mr. Abbot spent 24 years with JP Morgan Chase and its previous affiliates in various management assignments in Europe, Asia, and the Americas.
“Given the size of the foreign banking community in New York, Waldo’s background and expertise are a perfect fit for us,” said Jo Ann S. Barefoot, Co-Chair of Treliant Risk Advisors and former Deputy Comptroller to the Currency. “Waldo understands the issues foreign banks confront in the U.S. and he has the knowledge to provide the kinds of compliance and business solutions that best meet their needs.” Andrew L. Sandler, Chief Executive Officer of Treliant Risk Advisors, added, “The addition of Waldo to our team is the next step in implementing our strategic plan; we will be able to better meet the needs of hedge funds and banks headquartered outside the U.S. as they seek to navigate the increasingly complicated U.S. bank regulatory environment and the requirements of Dodd-Frank.”
Mr. Abbot previously was the Chair of the Institute of International Bankers (IIB) for three years and on the Executive Committee for 12 years. He is a Board member of the Foreign Policy Association and is a former Board member of Cadogan Management LLC and Prime Fund Solutions LLC. He served as the Executive-In-Residence at the University of Richmond and an Emeritus Trustee.
“The reasons that foreign banks open offices in the U.S. are extremely diverse, and the issues they face are equally diverse,” said Mr. Abbot. “Treliant has risen to the forefront in responding to the needs of financial institutions from its base in Washington, DC. I look forward to extending that expertise to both U.S. and foreign-owned financial institutions from our office in New York.”
Mr. Abbot received his B.A. from the University of Richmond and his MBA from the Wharton School of the University of Pennsylvania.
About Treliant Risk Advisors, LLC
Treliant Risk Advisors, headquartered in Washington, DC, is a multi-disciplinary consulting, compliance, and strategic advisory firm for the financial services industry. With a strong team of highly experienced executives who have held senior leadership positions in Fortune 100 companies, financial institutions, and regulatory agencies, Treliant Risk Advisors provides its clients with critical compliance, risk management, and business advice and solutions. Services include: crisis and risk management, regulatory compliance, compliance integration, foreclosure practices review, business consulting, acquisition strategy, corporate governance, due diligence, portfolio evaluation, financial analysis, and litigation expert sourcing. For more information, visit www.treliant.com.