The Bancorp Bank, the wholly-owned banking subsidiary of The Bancorp, Inc. (NASDAQ: TBBK), is pleased to welcome Randall Baugh as its new Managing Director, Chief Compliance Officer. In this role, Baugh will be responsible for overseeing the Bank’s Compliance Management System, including the Compliance Risk Management Program within the Bank’s core consumer and commercial deposit and lending services, under the leadership of Executive Vice President and Chief Operating Officer, Greg Garry.
“The Bancorp is focused on modernizing consumer compliance programs for the rapidly evolving banking landscape where fintechs play a larger role and legacy approaches are becoming quickly outdated. With Randall’s background and expertise in this area, he will help us continue to develop the operational foundation our third-party service providers, partners and clients have come to expect,” said Garry.
Baugh brings a breadth of experience within financial services consumer protection and consumer banking to The Bancorp. Most recently, he served as the Head of E*TRADE Bank Compliance at Morgan Stanley, where he was responsible for leading day-to-day compliance activities in addition to Bank integration activities as a result of Morgan Stanley’s acquisition of E*TRADE in late 2020. Simultaneously, he served as the Head of Morgan Stanley US Banks Deposits, Marketing, and Advertising Compliance.
“It’s exciting to join an organization like The Bancorp that continuously challenges itself to lead by example when it comes to meeting the challenges of an ever-changing regulatory environment,” said Baugh. “In my role, I look forward to contributing to the strategic growth of the company by maintaining a compliance risk management program in line with the size and complexity of the organization.”
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