Barclays has named Hector Sants, former chief executive of the Financial Services Authority (FSA), as its head of compliance and government and regulatory relations, a newly-created role. Sants will join the executive committee of Barclays and report directly to Antony Jenkins, group chief executive.
In this role, 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.
Sants will be directly accountable to the group CEO for the performance of the compliance function against a framework of specific standards agreed by the Barclays PLC board, and for ensuring the conduct of all staff is consistent with Barclays purpose and values, as well as the spirit and letter of the law and the expectations of regulators in the geographies where Barclays
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