AP News

News Summary: Barclays appoints compliance chief


CLEANING HOUSE: Barclays has appointed the former chief of Britain's financial regulator to the new role of head of compliance at the scandal-hit U.K. bank.

ABOUT THE JOB: Hector Sants is switching sides from heading the Financial Services Authority to overseeing all compliance activities in all regions in which the London-based bank conducts business.

ABOUT BARCLAYS: British and U.S. regulators earlier this year fined the bank a record 290 million pounds ($467 million) for manipulating a key interbank lending rate known as LIBOR.


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