Barclays Plc (BARC), the U.K.’s second-largest bank by assets, said it hired Bob Hoyt as group general counsel from PNC Financial Services Group Inc. (PNC:US)
Hoyt will start in mid-October, replacing Mark Harding, London-based Barclays said today in a statement. Before joining the second-largest U.S. regional bank as general counsel in 2009, the 48-year-old worked at the U.S. Treasury.
Harding quit in February with Finance Director Chris Lucas, who is under investigation by regulators about whether the bank adequately disclosed fees it agreed to pay to the Qatar Investment Authority when it sought to raise money from investors including the sovereign-wealth fund. Lucas was replaced by Tushar Morzaria last month.
“Banking is a highly regulated industry, the legal matters we face are myriad and complex, and it was important that we recruited a strong leader to succeed Mark,” Barclays Chief Executive Officer Antony Jenkins said in the statement.
The CEO said that Hoyt completes his executive team. As well as Hoyt and Morzaria, he hired Shaygan Kheradpir as chief operations and technology officer, responsible for helping the lender automate more systems to cut costs, and former Financial Services Authority CEO Hector Sants as head of compliance and government and regulatory relations.
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