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Barclays Announces Resignation of Senior Compliance and IT Executives

Barclays’ head of compliance and chief operations and technology officer have both resigned.

Barclays announced today the resignation of both its head of compliance, Hector Sants, and its chief operations and technology officer, Shaygan Kheradpir.

The bank said that it will be conducting an external and internal search for filling both positions. For now both positions are being filled on an interim basis by internal executives.

[For More Barclays-Related News: Barclays Expands Use of Crowdsourcing to Better Customer Experience]

Kheradpir is leaving the bank to take up the chief executive officer at Juniper Networks, a network IT firm based in the U.S. Prior to working at Barclays, Kheradpir served as the executive vice president and chief information and technology officer for Verizon Communications. He will take up his new post at Juniper Networks at the beginning of January, according to a statement from the company.

Sants has been on sick leave since the beginning of October, according to Barclays’ statement, and has been suffering from stress and exhaustion. The statement said that he told the bank he will not be resuming his work in the near term, and opted to resign.

Jonathan Camhi has been an associate editor with Bank Systems & Technology since 2012. He previously worked as a freelance journalist in New York City covering politics, health and immigration, and has a master's degree from the City University of New York's Graduate School ... View Full Bio

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Jonathan_Camhi
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Jonathan_Camhi,
User Rank: Author
11/14/2013 | 7:43:53 PM
re: Barclays Announces Resignation of Senior Compliance and IT Executives
Yes banking is becoming more complex and banks don't want to spend all the money that it would take to hire the staff needed to keep up with that complexity. I'd imagine that leads to a lot of health issues around the industry.
KBurger
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KBurger,
User Rank: Author
11/13/2013 | 10:30:37 PM
re: Barclays Announces Resignation of Senior Compliance and IT Executives
Not to make light of this but it is not surprising that the pressures around compliance, risk management and all the scrutiny on insitutions such as Barclays could take a toll on employees at all levels. A perhaps-underestimated example of the long-term and continuing impact of the financial crisis.
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