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Target Market News has introduced Black Business Chicago, a new monthly which will spotlight news and features on Chicago's African-American businesses, corporate executives and local economic issues. The publication will also be supplemented by a Web site, blackbusinesschicago.com, that will provide updated coverage of relevant business news on a daily and weekly basis between issues of the monthly print publication. Click for more ____________________________________

Buying Power report: Blacks spend as economy grows
New 16th edition shows $507 bil in spending



The finding comes from the 16th annual edition of "The Buying Power of Black America" report. In 2009, black households spent an estimated $507 billion in 27 product and services categories. ...

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Wells Fargo names Yvette Hollingsworth as Chief Compliance Officer

(May 27, 2012) Wells Fargo & Company has announced that it has named Yvette Hollingsworth chief compliance officer. Hollingsworth, who most recently served as managing director and global head of Operations Compliance and Financial Crimes Compliance & Risk Management for Barclays Corporate & Investment Bank, will begin her new role on June 1, 2012. She succeeds Tim Marrinan, who announced his retirement late last year. Hollingsworth will be based in San Francisco, California and will report to Caryl Athanasiu, executive vice president and chief operational risk officer in the Corporate Risk group.

As chief compliance officer, Hollingsworth will be responsible for ensuring that all areas of the company meet compliance management responsibilities and abide by all applicable laws and regulations. Her team will continue to provide independent oversight of business-based compliance management activities.

 “We are delighted to welcome Yvette to our Corporate Risk team at Wells Fargo,” said Mike Loughlin, chief risk officer and head of Corporate Risk. “Given the intensity of the current regulatory environment, it’s absolutely critical that we maintain a strong compliance team, and Yvette has demonstrated that she has the values, depth of knowledge and experience to effectively lead regulatory compliance for our company.”

Hollingsworth has extensive experience in compliance and risk management, having spent approximately 10 years as a regulator with the Federal Reserve System with roles at the Federal Reserve Banks of San Francisco and New York as well as the Board of Governors. Her industry experience includes a variety of senior compliance/anti-money laundering (AML) roles for financial institutions including Barclays Corporate & Investment Bank and Citigroup, where she served as managing director and regional head of AML Compliance for the Markets & Banking North American division.

Hollingsworth previously served on the Supervisory Committee of the Federal Reserve Credit Union, as vice president of Administration and Operations and as a member of the Board of the New York Chapter of the National Black MBA Association, and currently serves as a Board member and Vice Chairman of INROADS New York/New Jersey Region. She earned an M.B.A. from Syracuse University and a bachelor of science degree from the State University of New York Institute of Technology.


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