Amid $23 billion in government fines and counting, JPMorgan Chase’s chief compliance officer, Cindy Armine, has left that post, according to published reports. She will be replaced, on an interim basis, by Lou Rauchenberger, the current chief administrative officer.
Armine stepped into the bank’s top compliance job in January 2013. The former head of global compliance for Citigroup, and a 31-year veteran at that bank, she joined JPMorgan in 2011 as part of an effort to overhaul risk controls in its mortgage businesses. Her time there was a tumultuous one, however, with a flurry of headline-grabbing accusations against the bank and record-setting government fines.
