Wealth Manager - the site for professional investment managers

Register to get unlimited access to all of 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 JPM’s Negyal: Back divis to temper EM volatility

JPM’s Negyal: Back divis to temper EM volatility

Omar Negyal, co-manager of the JPMorgan Global Emerging Markets Income trust, says a dividend approach to emerging markets reduces the volatility of investing in the asset class.

Play WMR: Why Russia will lose this war

WMR: Why Russia will lose this war

Author and journalist Adam Lebor believes a perfect storm is brewing when it comes to the Russian economy. .

Play WMR: Gerard Lyons warns Asia is the real risk, not Russia & Ukraine

WMR: Gerard Lyons warns Asia is the real risk, not Russia & Ukraine

Chief economic adviser to London mayor Boris Johnson outlines the geo-political risks in Asia and explains why the risk of another eurozone crisis must not be underestimated.

Your Business: Cover Star Club

Profile: The adviser that tempted Robin Minter-Kemp on board

Profile: The adviser that tempted Robin Minter-Kemp on board

It is rare to meet an impassioned individual who is willing to bang the drum for investment advisory right now

Wealth Manager on Twitter