Former Financial Services Authority (FSA) chief executive Hector Sants has been approached by the Archbishop of Canterbury over leading a new financial taskforce, according to reports.
The Daily Telegraph reported Justin Welby has lined up Sants to lead a body called the Archbishop’s Taskgroup on Credit Unions and the Financial Sector, which aims to drive payday lenders out of business and create a new way of approaching finance.
In November 2013, Sants resigned from his role as head of compliance at Barclays after 10 months due to stress and exhaustion.
According to the Daily Mail, Sants (pictured) was approached about the new job before Christmas and said he had made a full recovery.
The paper said the new taskforce would make church buildings available to credit unions and recruit volunteers to help run them.
Sants was at the head of the FSA from July 2007 until July 2012. He joined the regulator in May 2004 as a managing director.