Citigroup has recruited an anti-money-laundering expert from its Wall Street rival Bank of America Merrill Lynch – reflecting the growing importance of such skills for banks' compliance teams in the wake of hefty fines on both sides of the Atlantic.

Kathryn Woodfine started at Citi in London on December 3, according to the UK Financial Services Register, having left her post at Bank of America Merrill Lynch on October 16.