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U.S. Treasury Secretary John W. Snow today named Robert W. Werner as the new Director of the Financial Crimes Enforcement Network (FinCEN), a bureau of the U.S. Treasury Department. Werner currently serves as the Director of the Treasury's Office of Foreign Assets Control (OFAC).
"OFAC and FinCEN are two premier agencies at the heart of an unparalleled campaign to combat terrorist financing and financial crime across the globe. Fortunately, the Treasury will continue to benefit from Bob's talents and vision, as he takes over FinCEN's critical efforts to safeguard the financial sector from illicit activity," said Snow.
"Bob's expertise and steady leadership brought OFAC into the 21st Century by enhancing the Office's administration of economic and trade-based sanctions and highlighting its potential to address a wide range of threats to our national and economic security," Snow continued. "Under Bob's leadership, OFAC has greatly strengthened its relationships with the financial sector and other U.S. Government agencies, as well as with foreign counterparts around the world."
"I have full confidence that Bob will continue to protect our country against terrorist financiers, money launderers and other financial criminals in his new role as Director of FinCEN," said Snow.
As Director of OFAC, Werner oversaw the administration and enforcement of the U.S. Government's economic and trade sanctions, based on foreign policy and national security goals. Beforehand, Werner served as the Treasury's Assistant General Counsel for Enforcement and Intelligence and as the Chief of Staff of the Financial Crimes Enforcement Network. Werner began his career at the Treasury Department in the Office of the General Counsel, including serving as Counselor to the General Counsel.
Before coming to the Treasury, Werner served in the Justice Department's Office of Legal Counsel. He also served as a federal prosecutor in the U.S. Attorney's Office in Connecticut, Associate Attorney General in the State of Connecticut, and he headed Connecticut's gaming regulatory agency.
His private sector experience includes work as a partner at Bingham Dana LLP (now Bingham McCutchen) and as an officer at The Phoenix Home Life Mutual Insurance Company (now The Phoenix Companies). Werner is also a former law clerk to Associate Justices Lewis F. Powell, Jr. (retired) and Anthony M. Kennedy.
Werner earned his Juris Doctorate from New York University School of Law, his masters from Columbia University and his bachelors from Amherst College. He graduated with honors from each institution. Werner currently resides in Virginia with his wife and three children.
The Financial Crimes Enforcement Network is a bureau within the Treasury Department charged with safeguarding the financial system from money laundering and other illicit financial activity through the administration of the Bank Secrecy Act. FinCEN supports the law enforcement and intelligence communities, as well as the regulatory agencies, through the sharing and analysis of financial intelligence.
Werner replaces William Fox, who departed FinCEN in January to pursue a career in the private sector. Barbara Hammerle will serve as Acting OFAC Director.
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