Ex-FSA Chief Sants To Barclays For £3 Million

Dec 19 2012 | 10:06am ET

Hector Sants, the former head of Britain's Financial Services Authority and that regulator's former top authority on hedge funds, will join Barclays next month.

Sants will lead the troubled bank's compliance effort as its first head of that area. Barclays has been embroiled in a rate-fixing scandal that has already cost former CEO Bob Diamond his job.

New CEO Antony Jenkins said that Sants' appointment would "send a clear signal intent in terms of my personal commitment to delivering a culture in Barclays where compliance is universally welcomed and observed."

Sants worked at Credit Suisse and UBS before joining the FSA in 2004. He served as head of its wholesale and institutional markets division, which included hedge funds and private equity firms, before being named its CEO in 2007. He stepped down in June after almost five years on the job, and as the FSA moved towards oblivion—it will be replaced by a new regulator next year.

The move to Barclays will certainly be a lucrative one for Sants: The Financial Times reports that he'll be paid as much as £3 million in the job, including a £700,000 salary, bonuses of as much or more and a long-term incentive plan worth up to £1.5 million.


In Depth

Israeli Hedge Fund Harnesses Big Data

Jul 28 2014 | 8:10am ET

Apica Green is a multi-million dollar Israeli hedge fund that is based in Tel Aviv...

Lifestyle

David Yarrow On Growing His Hedge Fund And Shooting The Animals And People Of Africa - As A Photographer

Jul 23 2014 | 6:44am ET

While he’s always been a photographer, recent expeditions to Iceland, Ethiopia...

Guest Contributor

Why Is The Shipping Industry Underwater?

Jul 31 2014 | 7:31am ET

Anyone who’s taken a look at the global shipping industry recently probably knows...

 

Publisher's Note