Stuart Levey, a man who enforced anti-money laundering under two U.S. presidents was named the CEO of the Libra Association.
Yesterday, May 6, the Libra Association announced the appointment of Obama’s former under secretary for terrorism as its first CEO.
Mr. Levey served as the first Under Secretary of the Treasury for Terrorism and Financial Intelligence during the Bush and Obama Administrations. Right now he is the chief legal officer at HSBC. He will step down from his role and join Libra Association later this summer.
Levey continues to make peace with regulators.
Mr. Levey said in his statement:
“I am honored to join the Libra Association as it charts a bold path forward to harness the power of technology to transform the global payments landscape… I look forward to working closely with governments, regulators, and all of our stakeholders to realize this vision.”
“Stuart brings to the Libra Association the rare combination of an accomplished leader in both the government, where he enjoyed bipartisan respect and influence, and the private sector where he managed teams spread across the globe. This unique experience allows him to bring a wealth of knowledge in banking, finance, regulatory policy and national security to the Association and strike the right balance between innovation and regulation.” said Katie Haun, Libra Association board member who led the CEO search committee.
Under control from the U.S. government, Libra has needed to make a few settlements to its unique vision. Maybe, Levey, who appreciated bipartisan help while in office and who has immense involvement with the field of money related guideline is the man who will push the project ahead despite expanding competition.
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