Wealth Manager - the site for professional investment managers

Register to get unlimited access to Citywire’s fund manager database. Registration is free and only takes a minute.

Sants to join Barclays as head of compliance

1 Comment
Sants to join Barclays as head of compliance

Barclays has lured Hector Sants, who will become the bank's head of compliance from 21 January 2013.

The former Financial Services Authority chief was also rumoured to have been in talks with global consultancy Deloitte, but in a snap announcement Barclays said it had hired the regulation boss.

The bank said: 'In this role, Mr Sants will oversee all compliance activities across Barclays, including all regions in which Barclays does business.

'In a major change this will mean, for the first time, that all compliance staff within the bank report to one individual, and operate independent of business and regional management teams.'

The news follows Barclays Bank in Spain being hit by a new fine.  Its Spanish division was fined €600,000 by the country's stock market regulator for underestimating the risk of structured bonds sold to clients.

In his new position Sants (pictured) will be directly accountable to the group chief executive of Barclays for the performance of the compliance function against a framework of specific standards agreed by the Barclays board, and for ensuring the conduct of all staff is consistent with Barclays purpose and values.

Marking a first for the bank, Sants will additionally take on responsibility for the Barclays’s relationships with governments and regulators around the world, the bank said in its statement.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play Picton: the UK property hotspots for rental income

Picton: the UK property hotspots for rental income

Picton Property Income CEO Michael Morris reveals how he is planning to ride the ‘ripple effect’ as UK economic growth spills out from the capital across the country.

Brewin's Foster talks financial crisis MkII with Allianz's Riddell

Brewin's Foster talks financial crisis MkII with Allianz's Riddell

This week Brewin Dolphin's head of research talks to Mike Riddell, fund manager at Allianz Global Investors, about the forces driving bonds markets in a tumultuous week for markets.

Play Henderson's Hermon: how to be defensive in smaller caps

Henderson's Hermon: how to be defensive in smaller caps

Hermon, who manages the Henderson Smaller Companies trust, talks about he will tackle a 'challenging' 2016.

Your Business: Cover Star Club

Profile: 'what we are doing at Mosaic is Darwinian'

Profile: 'what we are doing at Mosaic is Darwinian'

The changes in financial services over the last few years may leave some destitute warns Marco Sambucci of Mosaic Money Management

Wealth Manager on Twitter