Dive Brief:
- Financial Crimes Enforcement Network Director Andrea Gacki is leaving the federal agency to become global head of sanctions at Citi, the bank and the Treasury Department confirmed separately Friday.
- Gacki will start at the bank Oct. 1, joining Citi’s independent compliance risk management leadership team, according to a company memo shared with Banking Dive. She’ll report to Tom Anderson, the bank’s chief compliance officer. “Andrea’s deep geopolitical experience coupled with her national security and policy expertise will benefit Citi as we support our clients and businesses across the globe in navigating the increasingly complex sanctions landscape,” Anderson said in the memo.
- Jenna Casanova has been appointed FinCEN’s acting director, and Gacki will remain at the agency for several weeks to support the transition, a Treasury spokesperson said.
Dive Insight:
Gacki is equally respected across industry and government, said Brent McIntosh, Citi’s chief legal officer and corporate secretary, in a Thursday LinkedIn post. Before leading FinCEN, Gacki was the director of the Office of Foreign Assets Control for five years, and spent years at the Justice Department.
“Few leaders can match Andrea Gacki’s depth of experience in sanctions and financial crime,” McIntosh said in the post.“I know from our shared time at the U.S. Department of the Treasury what a dynamic leader she is. Her career has been defined by tackling the toughest issues where national security and the economy intersect. Andrea’s perspective and leadership will be a tremendous asset to Citi, and I’m looking forward to working with her as we continue to advance a critical aspect of our work.”
McIntosh worked at the Treasury Department from 2017 to 2021, serving as general counsel and undersecretary for international affairs, according to his LinkedIn profile.
In a Friday statement, Gene Lange, currently carrying out the duties of undersecretary for terrorism and financial intelligence, cited Gacki’s 25 years of government service, “including nearly three years leading FinCEN during a period of significant change and accomplishment for the bureau. We are grateful for her dedicated service and many contributions to Treasury's national security mission, and we wish her every success in her new role.”
Lange noted the department’s “deep bench of career leaders,” allowing for a “seamless” transition.
Casanova most recently served as a senior adviser to the undersecretary for terrorism and financial intelligence, leading Treasury’s work on illicit finance priorities and coordinated policy across FinCEN, OFAC, the Office of Terrorist Financing and Financial Crimes, the Office of Intelligence and Analysis and federal law enforcement partners, a Treasury spokesperson said.
Prior to that, Casanova served as a senior enforcement officer at FinCEN and as acting section chief within the enforcement division. While there, she helped lead the enforcement effort against TD that resulted in a $1.3 billion civil money penalty, the largest imposed on a bank in Treasury and FinCEN history.
Casanova “is an outstanding public servant with a proven record of leadership in the fight against illicit finance,” Lange said. “Her experience leading Department-wide illicit finance priorities in support of the Under Secretary for Terrorism and Financial Intelligence, combined with her background in FinCEN enforcement, federal law enforcement, and the private sector, gives her an exceptional understanding of the threats facing our financial system and the strategic, regulatory, and enforcement tools needed to address them.”
