In this role, Mr Sants will oversee all compliance activities across Barclays, including all regions in which Barclays does business. In a major change this will mean, for the first time, that all compliance staff within the bank report to one individual, and operate independent of business and regional management teams.
Mr Sants will be directly accountable to the Group Chief Executive for the performance of the compliance function against a framework of specific standards agreed by the Barclays PLC Board, and for ensuring the conduct of all staff is consistent with Barclays purpose and values, as well as the spirit and letter of the law and the expectations of regulators in the geographies where Barclays operates.
Mr Sants will additionally take on responsibility for the bank’s relationships with governments and regulators around the world. He will take up his post on 21 January 2013.