Lorum, the specialist correspondent institution, today announced the appointment of Dr. Hartwig Gerhartinger as Chief Legal, Risk and Compliance Officer.Lorum's model is a bank for banks: correspondent infrastructure the mid-market builds on directly, through one API. In the legacy system, these institutions reach the rails only through chains of nested correspondents, each layer adding cost, delay and risk. Lorum gives them direct access instead: one relationship through which they hold, manage and move funds across currencies. More institutions are building on it, driving 15x growth so far this year.Gerhartinger joins from Paysafe, where over a 13-year tenure he rose through senior leadership positions to become Global Head of Regulatory, Government Affairs, Enterprise Risk and ESG. His remit spanned a payments group listed on the New York Stock Exchange and operating under licenses across North America, Europe and Latin America. He brings deep experience navigating multi-jurisdictional regulatory environments at scale, and will lead Lorum's legal, risk and compliance functions.The appointment is the latest step in a compliance build-out keeping pace with that growth. In April, Lorum filed for a national trust bank charter with the US Office of the Comptroller of the Currency. Because Lorum sits at the center of how its clients hold and move money, the strength of its legal, risk and compliance functions is the reason clients can build their clearing, custody and treasury on its infrastructure with confidence."Correspondent banking underpins the global economy, and the system itself works. What has not worked is the set of incentives and intermediaries that built up around it," said George Davis, Co-Founder and CEO of Lorum. "We are building the institution that realigns those incentives, and bringing in a leader of Hartwig's standing reflects the company we intend to become.""The institutions squeezed out of correspondent banking over the past decade were not failed by regulation, they were failed by economics," said Dr. Hartwig Gerhartinger. "Building infrastructure that serves them again, to the standard regulators expect of a bank, is the most consequential mandate in financial services right now. That is why I joined.”NoYesPeople Moves07 Jul, 2026