The Guardian reports that his resignation – after only 10 months running the compliance operations of the bank – is a blow to new Barclays boss, Antony Jenkins, who had appointed the former top regulator to the bank's inner management team to help restore its reputation following a string of scandals.
Sants, said to be on a £3m a year pay deal, has told friends that he does not want to pursue any more full-time career opportunities after his stint at Barclays, where he was responsible for the 1,300-strong compliance department and repairing fraught relations with regulators.
The bank revealed Sants had resigned only a month after announcing that he would be off work until the end of the year following a diagnosis of stress and exhaustion. "He has concluded that he will not be able to return to work in the near term. Consequently he has decided to resign from Barclays and not return from sick leave," the bank said. He is likely to be paid until April.
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image: © Dick Johnson