Bloomberg Creates Role of Chief Risk & Compliance Officer

Business and financial information and news giant Bloomberg L.P., announced on Thursday that has created a new role carrying the title of Chief Risk and Compliance Officer.

New York, NY-based Bloomberg said Paul Wood has taken the position of Chief Risk and Compliance Officer and will be tasked with overseeing all risk, corporate compliance, client data security, and security globally.

Wood will report directly to Bloomberg CEO and President, Daniel Doctoroff.

“This newly created role centralizes existing functions responsible for identifying and managing risk and compliance across all Bloomberg businesses and regions,” the company said in a statement.

“As the new Chief Risk and Compliance Officer, Mr. Wood will work closely with senior executives and the Board to identify, propose and implement enhancements to the management and monitoring of risk, compliance and information and physical security,” the statement continued. “Mr. Wood also will work closely with other company stakeholders and external parties, as appropriate, to manage and resolve risk, compliance and information-related issues.”

“The appointment of a chief risk and compliance officer is a key step in our drive to set new industry standards in effectively managing and monitoring risk, compliance and information,” Doctoroff said.

Wood most recently served as Chief Information Security officer of investment management firm Bridgewater Associates. Previously, he was Group Chief Security Officer at Aviva, a global insurance company, where he oversaw the development and delivery of all aspects of information and physical security. He also served at UBS Investment Bank, where he was CSO for all areas of the Bank.