Barclays announces loss of two execs on the same day

Departure

One to stress, the other to another job.

Barclays has announced changes to the senior management of the Group as a result of the resignations of Head of Compliance and Government and Regulatory Relations, Sir Hector Sants, and Chief Operations and Technology Officer, Shaygan Kheradpir.

Hector Sants has been on sick leave since the beginning of October, suffering from stress and exhaustion. He 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.

Shaygan Kheradpir, Chief Operations and Technology Officer, is leaving Barclays to take on a role as CEO for a company based in the United States.

An internal and external search will be launched for both posts. In the meantime Allen Meyer, Head of Compliance, Corporate and Investment Banking will act as Interim Head of Compliance and Government and Regulatory Relations. Darryl West, Barclays’ Chief Information Officer, will act as Interim Group Chief Operations and Technology Officer. In these posts both will join the Executive Committee and report to Group Chief Executive, Antony Jenkins.

Commenting on the changes Antony Jenkins, 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. I know my colleagues will join me in expressing our appreciation to Hector, as well as wishing him a speedy recovery.

'Shaygan has made a huge contribution to our innovation and technology agenda and the elements of Transform which his team are delivering have real momentum. He has infused his colleagues in Operations and Technology with a spirit of creative thinking and exploration which Barclays will continue to benefit from long after he has moved on.

'Under both Hector and Shaygan, we have made great progress towards our goal of becoming the ‘Go-To’ bank and I am totally confident that this momentum will continue with the strong leadership teams we have established in both functions'.

image: © C.P.Storm

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