Bloomberg L.P. today announced that it has named Paul Wood as its Chief Risk and Compliance Officer.
He will oversee all risk, corporate compliance, client data security, and security globally and report to Daniel L. Doctoroff, Bloomberg L.P.'s Chief Executive Officer and President.
This newly created role centralizes existing functions responsible for identifying and managing risk and compliance across all Bloomberg businesses and regions. 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. 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.
"Companies have never faced a more complex set of challenges around risk, compliance and information management, requiring new approaches to successfully address them," Mr. Doctoroff said. "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. Paul brings deep experience in information security and risk, particularly in the financial sector, which will be a great asset for Bloomberg and our clients. Paul will help us continue to bring the same spirit of innovation to this area that we have used to build our products and services."
Mr. Wood has an extensive career in financial information and technology security, as well as physical security in private industry and the military. He most recently served as Chief Information Security officer of Bridgewater Associates, a global investment management firm, where he developed the information security and technology risk function, managed technology security risks and was responsible for the protection of intellectual property. Previously, he was Group Chief Security Officer at Aviva, a multinational insurance company, where he oversaw the global development and delivery of all aspects of information and physical security. He also served at UBS Investment Bank, where he was chief security officer for all areas of the Bank.
"Bloomberg has made a clear commitment to having truly differentiated risk, compliance and security functions," said Mr. Wood. "I look forward to helping Bloomberg set a new standard and a higher bar for the entire industry."