USA: Wahed appoints former SEC Director Lori Richards to Board of Directors

New York: Wahed, a global fintech company that encourages social responsibility and financial inclusion through accessible, affordable and values-based investing, today announced the appointment of Lori A. Richards to its board of directors.

With more than 30 years of industry experience, Richards is a well respected Securities industry compliance professional joins Wahed as its first female Director securities industry compliance professional. A former Director of the Securities and Exchange Commission, Richards led the SEC’s national examination program, and led numerous examination initiatives, resulting in improvements in investor protection and industry compliance.

Richards received the Presidential Rank Award for Distinguished Service in 2001 (the highest civilian award in the Federal government) and the SEC’s Distinguished Service Award in 2008 (the SEC’s highest award). Subsequently, Richards worked in the industry as a Principal with PwC and as Chief Compliance Officer of JP Morgan Asset and Wealth Management.

Junaid Wahedna, Chief Executive Officer of Wahed said, “We welcome Lori Richards to our Board of Directors and look forward to the insight and knowledge that she will bring to the role. Lori has had an impressive career and is a highly regarded compliance specialist with deep industry knowledge. With her regulatory expertise she will be instrumental in helping Wahed to be at the forefront of compliance, as it continues to expand globally.”

Richards’ appointment also makes her the first woman to join the board of the company. Wahedna added: “Given our focus on financial inclusion and diversity, we are passionate about establishing a company that reflects the society we are aiming to serve. Therefore, expanding and diversifying our board of directors is very important to us and we are thrilled to have reached this milestone. Lori brings terrific leadership experience and will be a great asset to us.

“Lori Richards commented, “I’m excited to work with Wahed as it brings financial services and wealth management to a large, underserved community of investors — and as it grows and reinforces its controls and compliance programs.”

Over the past five years she has been engaged in various board governance roles and in support of different non-profit organisations.