Barclays' Head Of Government Compliance Is Taking A Leave Of Absence Due To Stress

Barclays’ head of compliance and government
will take a temporary leave of absencedue to “exhaustion and stress,” Bloomberg’s Jon Menon and Ben Moshinsky report.

Hector Sants joined the the British bank in December after the Libor scandal, when Barclays was fined $US462 million for submitting false interbank rates.

Then-CEO Bob Diamond was fired, and the firm has endeavoured to alter its scandal-prone culture.

Sants — a former UK regulator and reportedly a key figure in preventing Barclays from buying Lehman Brothers assets in the runup to the bank’s 2008 collapse — has “been busy” as “Barclays has been working its way through a cloud of legacy compliance agenda,” Investec analyst Ian Gordon told Bloomberg.

Read the full report at Bloomberg »

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