Frederick Reynolds III began per week in the past and in addition has the title of deputy common counsel for regulatory affairs, Caroline Tsai, the corporate’s chief authorized and company affairs officer, stated in an e mail.
Reynolds had most lately been compliance chief at Brex Inc., a company bank card startup founded in 2017 by two Brazilian college dropouts that earlier this yr noticed its valuation hit $12 billion.
FIS will fireplace hundreds of staff because it prepares to usher in a brand new chief govt and copes with a slumping share value and difficult enterprise setting, Bloomberg reported Nov. 22.
Tsai, who joined FIS earlier this yr from Western Union Co., stated Reynolds is taking up a “newly consolidated management position” that experiences to her and replaces two individuals set to retire at yr’s finish.
“His expertise is an ideal mix of regulatory, compliance, and authorized experience with monetary establishments and the funds business,” she stated.
Reynolds started his profession as a litigation affiliate at Texas-based legislation corporations Winstead and Gardere Wynne Sewell, now part of Foley & Lardner, earlier than happening to work on the US Treasury Division, Financial institution of America Corp., and Barclays, the place he was the banking large’s prime cop for preventing monetary crimes.
He additionally spent three years as a prosecutor in Palau, an island nation within the Pacific Ocean. Reynolds didn’t reply to a request for remark.
Brex Adjustments
Reynolds left Brex after the corporate recruited a brand new prime lawyer in October in Ryan Loh, most lately common counsel for Bolt Monetary Inc., a funds startup that parted methods with its former CEO in January after securing an $11 billion valuation.
Loh disclosed his departure from Bolt on LinkedIn in September, the identical month that Bolt called off its deliberate $1.5 billion acquisition of Wyre Funds Inc., a cryptocurrency infrastructure supplier. He didn’t reply to a remark request.
Amanda Bradley, a former assistant common counsel for company at Bolt, stated through e mail that she succeeded Loh as authorized chief. Bradley additionally confirmed that Bolt employed Nguyen Vu, a former lawyer for Fb guardian Meta Platforms Inc., earlier this yr to go product, privateness, compliance, and mental property authorized.
At Brex, Loh has taken over a prime authorized position vacated by Kathryn “Katie” Biber, a former general counsel to Sen. Mitt Romney’s (R-Utah) in the end unsuccessful US presidential marketing campaign in 2012.
Biber left Brex in June to become legal chief for cryptocurrency funding agency Paradigm Operations LP. Below Biber’s management, Brex spent the previous two years doubling the size of its authorized and compliance workers, together with hiring former chief privateness officer Conway Ekpo from Morgan Stanley.
Ekpo, who launched a networking group for Black attorneys in Massive Regulation, stays an affiliate common counsel at Brex. Gabriel Ledeen, who spent the previous half-dozen years in authorized roles at Meta and self-driving automotive startup Cruise LLC, succeeded Expo as the corporate’s privateness chief earlier this yr.
In August, Brex noticed former affiliate common counsel for product and regulatory Emily Goodman depart to change into the highest lawyer for HQ Digital LLC, a wealth administration platform owned by Digital Forex Group Inc., a venture capital firm focused on the digital asset business.
Brex announced final month it plans to chop 11% of its workforce—136 workers—in a company restructuring leaving the corporate with roughly 1,150 staff.
The corporate didn’t reply to a request for remark about personnel issues.
