People Moves

Regions Bank Hires Former FBI Executive In Fraud Prevention Role

Eliane Chavagnon Editor - Family Wealth Report November 18, 2015

Regions Bank Hires Former FBI Executive In Fraud Prevention Role

As manager of international and cyber investigation for the company, Boles will identify and monitor emerging trends or threats and help coordinate responses designed to protect Regions clients.

Regions Bank, which provides financial services including wealth management, has named former FBI executive John Boles as manager of international and cyber investigation.

Boles spent 20 years at the FBI, most recently as assistant director of the bureau’s international operations division, based in Washington, DC.

He is an information technology expert, with a background in complex security environments, having overseen the FBI’s cyber operations and investigations. He joined the bureau in 1995 and before that spent five years as a cryptologic technician for the US Navy.

He brings a network of international law enforcement, legal and financial services contacts to his new role at Regions, and will report to Bill Burch, head of corporate security.

“People and businesses who bank with Regions may never see John at their local branch, but they will benefit from his service and the depth of his experience,” Burch said. “In today’s environment, banks are consistently working to defend customers against various attempts at fraud, often initiated by criminals operating overseas. John’s background in investigations, and his relationships in the international community, make him ideally suited for his new role, and we are proud to welcome him to the Regions team.”

Issues around cyber crime and information security, and the threats they pose to institutions and clients, are arguably among the most pronounced in the financial services arena, and in particular wealth management, today. In October 2014 JP Morgan said some 76 million households and 7 million small businesses were affected by a cybersecurity attack against the firm, which, according to reports, was one of the biggest disclosed breaches to hit a financial institution.

KPMG recently warned that a cyber attack – a very real and significant threat to the wealth management sector – could cost a business its investor backing (and clients). There is an expectation from investors for businesses to increase their cyber capabilities from top to bottom, including the board, the firm said.

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