Barclays compliance chief Sants takes stress-related leave
Barclays head of compliance Sir Hector Sants has taken leave until the end of the year, citing "stress and exhaustion". Sants, the former chief executive of the legacy Financial Services Authority (FSA), was appointed to the newly-created role of head of compliance and government and regulatory relations role in January this year.
October 15, 2013 at 10:41 AM
2 minute read
Barclays head of compliance Sir Hector Sants has taken leave until the end of the year, citing "stress and exhaustion".
Sants, the ex-chief executive of the body formerly known as the Financial Services Authority (FSA), was appointed to the newly-created role of head of compliance and government and regulatory relations at the bank in January this year.
At Barclays, Sants reports directly to chief executive Antony Jenkins, and is responsible for the bank's relationship with governments and regulators. He also manages all of Barclays compliance staff.
The bank confirmed Sants had taken the rest of the calendar year off, though he is expected to return at the beginning of 2014. It is understood that senior compliance staff in the division will fill in for Sants in the meantime.
Before taking up the role of FSA chief executive in 2007, Sants worked at a number of financial institutions as an investment banker. He stepped down from the FSA top role in June 2012.
On Barclays, Sants said: "I left the FSA with the intention of finding a role which would allow me to put into practice the experience I have gained in both the public and private sector."
"Taking on the responsibility of leading Barclays global compliance function, and overseeing the bank's relationships with governments and regulators gives me that opportunity."
Barclays said the move would not affect the handover in the general counsel role from Mark Harding to Bob Hoyt.
Hoyt, the former GC of US bank PNC Financial Services Group whose hire was announced by Barclays last month, began his handover period from Harding today (15 October) and is expected to take the reins from Harding at the beginning of November.
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