The Libra Association has announced its new General Counsel—Former treasury executive Robert Werner.
Werner, who also worked with a lot of other financial organizations, is expected to contribute his expertise to the Libra Association.
We’re pleased to announce the appointment of Robert Werner as the Association’s General Counsel. Bob brings a wealth of experience in #FinancialServices, #Compliance, and #FinancialIntegrity.https://t.co/ZBXwCeCOJ3
— Libra (@Libra_) May 19, 2020
Werner’s financial expertise
Robert Werner was chosen because of his expertise in the field of financial regulation, compliance, and enforcement.
Werner has worked with the private and public sector prior to joining the Libra Association. He founded GRH Consulting and became one of the few leaders at prominent financial organizations like the HSBC and Goldman Sachs.
His biggest career accomplishments include his stint at the U.S. Department of Treasury as a director of the Financial Crimes Enforcement Network (FinCEN) and Office of Foreign Assets Control (OFAC), and senior counsel to the Under Secretary of Treasury, among others.
Werner believes in the capability of the Libra Association to transform the global payment landscape. Until now, there is still an ever-growing need to further improve the accessibility of affordable payment infrastructures. Libra is a project that seeks to address that.
Werner said in a statement:
“I am grateful for the opportunity to join the Libra Association, as we work to transform the global payments landscape to empower billions of people. I have dedicated my career to combating financial crime and helping complex organizations achieve regulatory compliance, both in government and in the private sector. I look forward to meaningfully contributing to such an impactful project.”
Libra Association continues Libra project amid criticisms
Libra Association’s launch of its own cryptocurrency has been delayed as it faces criticisms of bypassing the necessary authorizations required for it by law.
It has even been feared by many international organizations as a potential risk to global financial stability. Libra has since scaled down its design for its new cryptocurrency, and pursued an option to back the coin with national currencies.
The Libra Association is a network of 22 organizations based in Geneva with the primary goal of promoting financial inclusion and develop the quality of financial services worldwide. Its most recent additions are companies like Shopify and Tagomi, a financial firm.
Werner’s addition to the team is a valuable update on the Libra project. Werner’s expertise from the years he worked with financial regulatory bodies and service providers could help support the project’s compliance efforts.