Sir Hector Sants, head of compliance at Barclays bank and former chief of the Financial Services Authority, has resigned, after taking leave in October due to stress and exhaustion. Chief of operations and technology officer, Shaygen Kheradpir will also be leaving for a CEO position at a US company.
In a statement released on Wednesday, Barclays said:
Hector 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. Consequently he has decided to resign from Barclays and not return from sick leave.
An internal and external search will be launched for both posts. In the meantime Allen Meyer, Head of Compliance, Corporate and Investment Banking will act as Interim Head of Compliance and Government and Regulatory Relations. Darryl West, Barclays’ Chief Information Officer, will act as Interim Group Chief Operations and Technology Officer. In these posts both will join the Executive Committee and report to Group Chief Executive, Antony Jenkins.