Sants, who headed the City watchdog from 2007 to June this year, has been named as the group’s head of compliance and government and regulatory relations. He will also join its executive committee.
The newly created role means all compliance staff within the bank report to one individual and operate independent of business and regional management teams for the first time.
Sants, who joins on 21 January 2013, will be responsible for the performance of the compliance function against a framework of specific standards agreed by the bank’s board. He will also ensure the group meets the expectations of global regulators.
In addition, he will assume responsibility for the Barclays’ relationships with governments and regulators across the globe.
Antony Jenkins, Barclays group chief executive, commented: “In appointing this new senior role, and making these structural and reporting line changes, I want to do two things.
“The principal one is to create the conditions whereby a world class compliance function can flourish, and the second is to send a clear signal of intent in terms of my personal commitment to delivering a culture in Barclays where compliance is universally welcomed and observed.”
Sants added: “I left the FSA with the intention of finding a role which would allow me to put into practice the experience I have gained in both the public and private sector.
“Taking on the responsibility of leading Barclays global compliance function, and overseeing the bank’s relationships with governments and regulators, gives me that opportunity.”
