The Supervisory Enhancement Programme was created to implement the recommendations identified by the internal audit review of the FSA’s handling of Northern Rock.
Kheraj will report directly to Hector Sants and will advise on aspects of the design and execution of the programme.
Kheraj joined Barclays from Robert Fleming, where he was co-head of global capital markets.
He was previously a managing director at Salomon Brothers.
Kheraj will commence his assignment on April 28 and will work on a part-time basis.
Sants says: “We are fortunate to have access to the valuable industry perspective Naguib, as a senior banker of many years experience, will bring to the FSA. His insight and understanding of financial services will be invaluable to the newly created Supervisory Enhancement Programme team as they begin their task of strengthening our supervisory process. A successful regulator has to seek constantly to learn, change and improve, skills which Naguib has amply demonstrated over his long and distinguished career.”