Former Deputy Minister Becomes First Libra Association’s CEO

By Marko Vidrih on The Capital

Marko Vidrih

Libra Association has appointed Stuart Levey as its first CEO. Under George W. Bush and Barack Obama, Stuart Levey served as 1st Under Secretary of the Treasury for Terrorism and Financial Intelligence, and he has extensive experience in tackling illicit finances.

According to a Libra Association press release, Levey oversaw the implementation of sanctions through the Foreign Assets Control Office and also controlled the fight against money laundering through the Financial Crimes Enforcement Network (FinCEN).

He will step down from his role as Chief Legal Officer at one of the world’s largest financial institutions with a presence in over 60 countries — HSBC Bank. Levey had already worked at HSBC by the time the Department of Justice fined the institution $2 billion for using bank clients to transfer money from drug trafficking.

The Libra Association recently hosted a number of new members, including Heifer International, a global non-profit organization, and Checkout.com, an online trading platform. The organization also began the process of obtaining a license for payment activities at the Swiss Financial Market Supervisory Authority.

Author: Marko Vidrih

Featured image credit: jpost.com

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