Hector Sants
| Hector Sants | |
| |
| Occupation | Head of Compliance and Regulation |
|---|---|
| Employer | Barclays Bank |
| Location | London |
Hector Sants was the head of compliance and government and regulatory relations at Barclays Bank. He resigned in November 2013 after being on sick leave for stress and exhaustion since January.[1] He previously served as the chief executive of the UK's Financial Services Authority between 2007 and 2012.
He left the FSA in June of 2012, after three years as CEO.[2] He had announced his resignation earlier but was asked to stay on as CEO in order to transition the FSA from its established system of regulation to a proposed future model.[3][4]
Background[edit]
Sants succeeded John Tiner as the CEO of the FSA on July 20, 2007, having joined the FSA in May 2004 as managing director of wholesale and institutional markets. He became chief executive of the FSA just before Northern Rock went bust, and he helped to restore FSA's reputation after the rescues of the Royal Bank of Scotland (by the British government) and of HBOS (By the government and Lloyds of London), cracking down on abuse of customers and initiating a regime of "intensive supervision." [5]
Sants's years at the FSA followed a 30-year career in the City, starting at stock broker Phillips & Drew as an equities analyst covering the food industry before moving to head its New York operation. He became global head of equities at UBS when the UK firm was acquired and then joined Donaldson, Lufkin & Jenrette in 1998.
Sants joined Credit Suisse First Boston when the firm merged with DLJ in 2000, and was head of international equities before being appointed as CEO for Europe, Middle East and Africa and a member of CSFB's executive board. He was a member of the Financial Services Practitioner Panel and was previously a board member of the Securities and Futures Authority - one of the bodies that merged to form the FSA - and of the London Stock Exchange.
Education[edit]
Sants graduated with a degree in psychology and philosophy from Oxford University.[6]
References[edit]
- ↑ Sants Resigns From Barclays. The Wall Street Journal.
- ↑ FSA's chief executive Hector Sants quits. Telegraph UK.
- ↑ FSA chief executive to leave organisation at the end of June. FSA.
- ↑ Hector Sants to quit FSA in June. Financial Times.
- ↑ A regulator resigns: Hector rides out. The Economist.
- ↑ Hector Sants. FSA.