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Sir Hector Sants resigns from Barclays due to stress

Former FSA chief executive Sir Hector Sants has quit his role as Barclays head of compliance and government and regulatory relations, one month after taking a leave of absence due to stress.

Sants has been on sick leave since the beginning of October, suffering from stress and exhaustion. He has concluded that he will not be able to return to work in the near term and has decided not to return from sick leave.

Sants joined Barclays in January this year after five years leading the FSA and was knighted in the New Year’s honours list.

Barlcays chief operations and technology officer Shaygan Kheradpir is also leaving to take on a role as CEO for a company based in the United States.

An internal and external search will be launched for both posts. Barclays head of compliance, corporate and investment banking Allen Mayer will act as interim head of compliance and Government and regulatory relations.

Barclays chief information officer Darryl West will act as interim group chief operations and technology officer. Both posts will join the executive committee and report to group chief executive Antony Jenkins.

Jenkins says: “Hector has been a great colleague on the group executive committee. Although only with us for 10 months, he has made significant progress towards creating a world class compliance function at Barclays and in improving our relationships with regulators and Governments.

”I know my colleagues will join me in expressing our appreciation to Hector, as well as wishing him a speedy recovery.

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