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Published every Thursday, Compliance Week Europe offers a condensed summary of risk, audit, and compliance news either originating in Europe, or of special interest to European compliance professionals. This newsletter will follow developments by the European Commission, as well as those of national governments across the region, or any U.S.-based news that might have consequence across the Atlantic. Frequency: weekly; Thursday a.m.

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Published every Friday, Compliance Weekend was launched at the behest of subscribers, and offers a quick Plain English review of the week's key developments. We hope you enjoy this supplement to Compliance Week's Tuesday edition.

Who’s Coming and Going in the GRC World

Jaclyn Jaeger | April 29, 2008

Compliance Week regularly tracks various personnel moves, board appointments, product releases, customer wins, and industry gossip in the corporate governance realm. Submit announcements to Compliance Week’s Jaclyn Jaeger.

From the Regulators



Halloran

The Securities and Exchange Commission has announced that Michael Halloran will be leaving the agency in May to return to the private sector. Halloran has served as counselor to Chairman Christopher Cox and as deputy chief of staff since joining the SEC in 2006. He also was an instrumental behind-the-scenes player in the Commission’s efforts to revise Auditing Standard No. 2—a bane of Sarbanes-Oxley compliance regulation—in favor of the more relaxed Auditing Standard No. 5.

Chief Risk, Compliance Officers

Bermuda-based CIFG Holding, the holding company for CIFG’s financial guaranty subsidiaries, has named David Rockwell chief risk officer. Rockwell has held several senior risk-management positions in the last 15 years, including head of structured finance risk management at Radian Asset Assurance and chief credit officer for AIG Risk Finance.

Dresdner Bank AG, based in Frankfurt, Germany, has appointed Thomas Wilson as its new chief risk officer, effective June 1. He will succeed Otto Steinmetz, whose contract expires at the end of May. Wilson will also maintain his current position as chief risk officer at Dresdner’s parent company Allianz SE, a position he has held since January 2008.

Accounting Officers, Controllers

$61 billion Wellpoint has named John Gallina as interim chief accounting officer. Gallina, who has been with the health insurer since 1994, will also continue in his current roles as vice president and chief financial officer of the company’s Comprehensive Health Solutions Business Unit. He replaces Wayne DeVeydt, who will remain CFO.

Tribune Co. has named Brian Litman vice president and corporate controller. Litman, who joined the company in 1997, most recently served as assistant controller. He succeeds Mark Mallory, who has resigned.

Pioneer Natural Resources has announced that Darin Holderness will leave his job as the company’s chief accounting officer to take a position as CFO of Eagle Rock Energy Partners. The company has issued no word yet on a replacement.

General Counsels, Corporate Secretaries

RHI Entertainment has appointed Henry Hoberman executive vice president and general counsel. He was formerly senior vice president at $14 billion ABC.

Channel Intelligence has hired Timothy French as vice president and general counsel. Prior to CI, French worked in the capital markets and mergers and acquisitions practice groups of law firm Latham & Watkins.

On the Board



Chenault

Procter & Gamble has elected Kenneth Chenault to its board of directors. Chenault, CEO of American Express since 2001, also will serve on the audit, compensation, and leadership development committees. He replaces John Smith, who has announced his retirement after 13 years of service on the board.


Washington Mutual has elected David Bonderman to its board of directors; he will also serve on the corporate development and finance committees. His election is part of a deal the beleaguered bank struck with private equity firm TPG (formerly Texas Pacific Group) to avoid a fight over board control at WaMu’s annual meeting.

Agricultural chemicals and seed company Monsanto has named Janice Fields to its board of directors. She will serve on the nominating and corporate governance, public policy, and corporate responsibility and science and technology committees. Fields is chief operating officer of McDonald’s Corp.

Azure Dynamics Corp., a developer of hybrid electric and electric powertrains for commercial vehicles, has appointed James Gouin to its board of directors. Gouin recently joined Tower Automotive as chief financial officer following a 28-year career at Ford Motor Co.

From the Vendors

KPMG has announced the establishment of the KPMG IFRS Institute to raise awareness of International Financial Reporting Standards. Initiatives include: Web-based videocasts and podcasts; roundtables; conferences; educational seminars and e-learning programs; and publications that explore accounting developments and emerging issues related to IFRS.



Razzano

The law firm Pepper Hamilton announced that Frank Razzano has joined the firm’s commercial litigation practice group as a partner in its Washington office. Razzano joined Pepper Hamilton from Dickstein Shapiro in Washington, where he had been a partner since 1996.

Gregory Ossi and Martin Collins have joined PricewaterhouseCoopers’ national tax services practice. Ossi joins PwC from the IRS Office of Chief Counsel, where he was a branch chief in the advance pricing agreement program. Collins rejoins PwC from the law firm McDermott, Will & Emery, where he was partner.