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Danos Group is a leading provider of permanent and interim Compliance, Risk and Legal recruitment services in the Financial Services arena across EMEA, the Americas, and APAC.

We pride ourselves on being able to match talent not just to the requirements of the role, but also to the style of the organisation.

Danos Associates is a leading contingency and search firm specialising in mid to senior level permanent hires across the Financial Services sector.  We deliver a personalised, discreet recruitment and selection service to an elite client base across a global market.

As one of the leading Legal, Risk and Compliance recruitment agencies we deliver top quality professionals to financial services firms...

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Danos Consulting provides experienced Legal, Risk and Regulatory interim and consultancy professionals to the Financial Services sector including consultancies. With an unparalleled talent network, we provide experienced, first class practitioners cost effectively.

We have a bench of over 800 Compliance, Risk and Legal Consultants, which we use to resource projects...

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Americas
EMEA
Asia Pacific - Singapore
Asia Pacific - Hong Kong

Offices

Danos Associates is the leading global supplier of professionals with offices in Europe, the Americas, and Asia Pacific.

EMEA
London

AMERICAS
New York

ASIA
Hong Kong
Singapore

Danos Group Launches Its Global Diversity & Inclusion Committee

 

Diversity

 

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02 Dec

Danos Associates publish “Hong Kong Salary Benchmark Report 2020”. This report outlines senior salaries for “Traditional Asset Manager” and “Hedge Fund & Private Equity” roles.

It also includes key market insights:

  • Overall Asset Management salaries have not changed substantially during 2020 although we continue to see a growing variation between fixed and variable compensation between firms.
  • Whilst 2020 has not been a bumper year for hiring, there has still been movement at all levels necessitating replacement hires, with activity increasing in the second half of the year and expected to increase further post bonuses in the New Year.
  • Many International Asset Managers have now established or are in the process of establishing a Singapore entity, but this has largely been to aide expansion in the South East Asia region, rather than relocating headcount from Hong Kong.

For your copy of the report, please contact Mark Moorby | Lead Partner, Head of Asia Pacific | Email: markmoorby@danosassociates.com | Tel: +(852) 2870 3007.

30 Nov

For the European Union (EU) member states, the Sixth Anti-Money Laundering Directive (6AMLD) comes into force this week (3rd December) and must be implemented by financial institutions by 3rd June 2021. It focuses on standardising the approach of EU member states to the offence of money laundering, as well as expanding the scope for potential liability for money laundering and the range of sanctions that EU member states are required to impose under local law.

The United Kingdom (UK) has opted out of 6AMLD, as the government deems that it is already compliant.

“The UK’s domestic legislation is already largely compliant with the Directive’s measures, and in relation to the offences and sentences set out in the Directive, the UK already goes much further. Therefore, the Government decided not to opt in as we did not consider that opting in would enhance the UK approach to tackling money laundering”.

Source: https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/684374/eighth-annual-report-to-parliament-eu-justice-home-affairs-matters.PDF   

Following 5AMLD, which broadly strengthened existing Anti-Money Laundering (AML) and Terrorist Financing (CFT) provisions, the 6AMLD intends to sanction financial institutions and authorities to do more in the fight against money laundering and terrorism financing by expanding the scope of existing legislation, clarifying certain regulatory details and toughening criminal penalties

What is included?

Extension of Criminal Liability to allow for punishment of legal persons, such as companies or partnerships. The extension of criminal liability in this context is intended to hold larger companies to account in the global effort to combat money laundering.

Tougher Punishment with the introduction of a minimum prison sentence of four years for money laundering offenses (the previous minimum sentence requirement was one year). It is worth noting that many EU member states already implement punishments for money laundering that exceed the minimum prison sentences required by 6AMLD.

Member-State Cooperation to allow specific information sharing requirements between jurisdictions, so that a criminal prosecution for the connected offenses can take place in more than one EU member state. Known as dual criminality, a principle that a crime often committed in one jurisdiction before its financial proceeds are laundered in another.

Expanded Regulatory Scope to include “adding and abetting”, which will also constitute as money laundering and be subject to the same criminal penalties.

Harmonization of the definition of money laundering, with a list of the 22 predicate offences that constitute money laundering, including certain tax crimes, environmental crime, and cyber-crime.

The 6AMLD aims to put professional money launderers out of business, the directive allows better targeting of larger companies who fail to eliminate money laundering, exposing those that fail to implement effective risk assessments, comprehensive training and internal procedures that contribute to eliminating this illegal activity.

If you are preparing for 6AMLD or are just in need of further assistance within your Financial Crime team, Danos Consulting can help…

Firms need to use the next six months efficiently, to ensure that their AML/CFT frameworks are robust and responsive to the new directive. Danos Consulting can support you from risk assessment to implementation of AML governance structures, staff training and vendor selection, and client screening and monitoring practices.

We have an experienced bench of Financial Crime professionals from more senior MRLOs (Money Laundering Reporting Officers) level consultants to more hands-on transaction monitoring, sanctions screening, AML/KYC practitioners. These consultants can be setup remotely at first to be able to assist as soon as possible.

Danos Consulting can help tailor any solution to fit a client’s needs. It is your choice on the length and structure of the contract such as Pay As You Earn (PAYE), Fixed-term or via a Limited Company. We are able to payroll the consultant as well to make it an even easier process for you.

This year alone we have helped firms within the Crypto, FinTech and Payments space with the following projects:

  • Multiple consultants for a Transaction Monitoring piece
  • Multiple consultants for PEP’s and Sanctions screening
  • Onboard an MLRO to monitor ongoing projects and provide a risk assessment
  • Consultants hired for a client onboarding backlog
  • Cryptoasset generalists to advise and then adapt on a firms 5AMLD policies and procedures

Please contact Bradley Handelaar if you would like to discuss any requirements you might need now or in the future.

Tel: +44 (0) 207 010 1154
Email: bhandelaar@danosconsulting.com

26 Nov

We continue the Danos “Pathway to Success” video series, by taking some time to reflect on the 2020 global Compliance, Risk and Legal recruitment market, and to hear what the future holds.

For our second video in this series, Katherine Lord (Partner, Head of Consulting) asks Dominic Danos (Managing Global Partner) of the Danos Group about his perspective on the market, as he answers questions on:

• 2020 key Compliance, Risk and Legal recruitment trends
• Opportunities for relocation and living abroad
• The benefits of a diverse workforce
• Developing education around diversity and inclusion
• Looking ahead what will the outlook for hiring in 2021

Dominic also takes the opportunity to get Katherine’s overview of the interim and consulting market this year, and changes for 2021.

Click Here To View The Video

Look out for the next video in the “Pathway To Success” series.