Barclays compliance chief resigns

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.


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 This material may not be published, broadcast, rewritten or redistributed.)

Top Stories

  • Closer to Harvest
    Seattle marijuana farmers are getting closer to harvesting their first crop for retail sales

  • End Isn't Near
    Officials have another trick up their sleeves to help save King County's bus service

  • Go Sherm!
    Richard Sherman recognized along with Beyonce, Jeff Bezos and the Pope
ATTENTION COMMENTERS: We've changed our comments, but want to keep you in the conversation.
Please login below with your Facebook, Twitter, Google+ or Disqus account. Existing MyNorthwest account holders will need to create a new Disqus account or use one of the social logins provided below. Thank you.
comments powered by Disqus
Sign up for breaking news e-mail alerts from MyNorthwest.com
In the community
Do you know a student who stands out in the classroom, school and community?
Help make their dreams come true by nominating them for a $1,000 scholarship and a chance to earn a $10,000 Grand Prize. Brought to you by KIRO Radio and Comprehensive Wealth Management.

Do you know an exceptional citizen who has impacted and inspired others?
KIRO Radio and WSECU would like to recognize six oustanding citizens this year. Nominate them to be recognized and to receive a $2,000 charitable grant.