The former head of the UK Financial Services Authority (FSA), Hector Sants, has resigned from his post at British banking giant Barclays plc after less than a year on the job.
The bank said Wednesday that Sants has resigned from his position as head of compliance and government and regulatory relations. He took up that post in January, but has been on sick leave since the beginning of October, suffering from stress and exhaustion.
The bank said that Sants, “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.”
Additionally, the bank’s chief operations and technology officer, Shaygan Kheradpir, is leaving to takeover as CEO for a U.S.-based company. An internal and external search will be launched for both posts, the bank said.
Commenting on Sants’ departure, Antony Jenkins, Barclays’ group chief executive, said, “Hector has been a great colleague on the group executive committee. Although only with us for ten months, he has made significant progress towards creating a world class compliance function at Barclays and in improving our relationships with regulators and governments.”