13th Nov 2013 14:00
LONDON (Alliance News) - Barclays PLC Wednesday said Sir Hector Sants has stepped down from his role of Head of Compliance and Government and Regulatory Relations, one month after going on sick leave as a result of stress and exhaustion.
Sants, who led the now-defunct and much maligned Financial Services Authority during the financial crisis, resigned after concluding that he won't be able to return to work in the near future.
Sants reported directly to Chief Executive Antony Jenkins in his role at Barclays.
Barclays said it would launch an external and internal search for a successor.
Allen Meyer, Head of Compliance, Corporate and Investment Banking will take on Sants' role on a temporary basis until a successor is found. Darryl West, Barclays? Chief Information Officer, will act as Interim Group Chief Operations and Technology Officer. Meyer and West will join the executive committee in the posts and report to Jenkins.
Barclays will also look for a successor for Chief Operations and Technology Officer Shaygan Kheradpir, who is leaving the bank to become the chief executive of a company based in the United States. Barclays did not disclose which company he will join.
Barclays shares were Wednesday quoted at 248.41 pence, down 3.3%.
By Samuel Agini; [email protected]; @samuelagini
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