Barclays Compliance Chief Quits, Citing Stress

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Published November 13, 2013

| FOXBusiness

Barclays (BCS) announced the departure of two major executives on Wednesday, including its compliance chief, Hector Sants, who has been on sick leave suffering from stress and exhaustion.

Sants, the head of compliance and government and regulatory regulations, said he didn't predict being able to return to work in the near term, and thus "decided to resign and not return from sick leave," Barclays said. 

The British bank also said that its chief operations and technology officer, Shaygan Kheradpir, resigned to fill the vacant CEO position at Juniper Networks (JNPR), a network infrastructure provider.

Barclay’s said an internal and external search will be launched to fill both spots.

In the meantime, Allen Meyer, currently head of compliance, corporate and investment banking, will act as Sants’ interim replacement, while Darryl West, Barclays’ chief information officer, will serve temporarily as CTO.

“Under both Hector and Shaygan, we have made great progress towards our goal of becoming the ‘Go-To’ bank,” Barclays CEO Antony Jenkins said in a statement. "I am totally confident that this momentum will continue." 

Shares of Barclays were down about 1.8% to $15.99 in recent trade, while those of Juniper, whose CEO Kevin Johnson announced plans to retire in July once a successor was found, slumped 1.7% to $19.27.

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