Sponsored by: Investment Center

Something new in your business?  Click here to submit your business press release

Chamber Corner | Main Street News | Job Hunt | Classifieds | Calendar | Illinois Lottery 

Barclays compliance chief resigns

Send a link to a friend 

[November 14, 2013]  LONDON (AP) -- British bank Barclays says Hector Sants, the senior manager hired to help it recover from a series of scandals, has decided to resign after suffering from stress and exhaustion.

The bank said Wednesday that Sants has concluded he wouldn't be able to return in the near term and consequently decided to quit.

Sants started work at the bank this year after five years heading Britain's Financial Services Authority during the global banking crisis.

Antony Jenkins, who appointed Sants as part of reforms to reinforce a more ethical stance at the bank, issued a statement noting that although Sants had been with the bank only 10 months, progress had been made.

Last year, regulators fined Barclays 290 million pounds ($462 million) for manipulating a key interbank lending rate.

[Associated Press]

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

< Top Stories index

Back to top