Star Entertainment Group has announced former Westpac financial crimes officer Scott Saunders as its new Chief Risk Officer as the company continues efforts to return to suitability in the eyes of state regulators.
Saunders is one of a number of new arrivals at Star following the departure of more than a dozen senior executives and board members in the wake of the Bell Review into The Star Sydney.
The Bell Review, which recommended Star be found unsuitable to hold its casino license, detailed a wide range of reasons for such a finding, including the illegal use of China UnionPay cards to fund gambling at The Star Sydney, Star’s dealing with Asian junket operator Suncity Group and the company’s response to independent audits of its anti-money laundering (AML) and counter terrorism financing (CTF) controls.
Star was also deemed unsuitable in Queensland – home to The Star Gold Coast and Treasury Brisbane – and hit with two AU$100 million fines – one in NSW and one in Queensland – as a result.
On the hiring of Saunders, recently appointed Star Managing Director and CEO Robbie Cooke said, “I am pleased to welcome Scott to this new role at Star. He has started today and will play an integral role in returning The Star to suitability and earning back the trust and confidence of our regulators and other stakeholders.”
Saunders joins Star from Westpac where he was General Manager, Financial Crime and Chief Compliance Officer. He previously filled a similar role at Macquarie Group.
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