Hector Sants resigns from Barclays

Sir Hector had been on sick leave since October with stress and exhaustion and, according to a statement from the Bank, he has confirmed that he will not be able to return to work in the near term.

The statement said: “consequently he has decided to resign and not return from sick leave.”

This has ushered in a change to the senior management team. Chief operations and technology officer, Shagyan Kheradpir has also resigned to take on the role of chief executive of a US company.

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It is understood Barclays is starting to seek replacements for both roles.

Commenting on the changes Antony Jenkins, group CEO: “Sir Hector has been a great colleague on the Group Executive Committee. Although only with us for 10 months, he has made significant progress towards creating a world class compliance function at Barclays and in improving our relationships with regulators and governments.

“I know my colleagues will join me in expressing our appreciation to Sir Hector, as well as wishing him a speedy recovery.”