Barclays' Sir Hector Sants stands down citing stress and exhaustion

Sir Hector Sants, Barclays’ head of compliance, and former chief executive of the Financial Services Authority (now Financial Conduct Authority) has taken a temporary leave of absence due to “exhaustion and stress”.

He is expected to be off work for about three months, returning to work in the New Year.

Sants took up the role at Barclays in January this year, following five years as the chief executive of the Financial Services Authority during the global banking crisis.

Sants becomes the latest senior banking figure to take stress-related leave on the recommendation of doctors, a move which will inevitably see renewed calls for the levels of stress in the city to be dealt with.

In 2011, António Horta-Osório took time off after taking up the position as Lloyds Banking Group’s chief executive. Speaking to the Financial Times this week, he said he decided to take time off after realising Lloyds was in a “worse shape than I thought when I took the job”.

He added: “Those are the types of problems a CEO has to deal with on his own and cannot share with many people because it [would be] counter-productive.”

When Horta-Osório returned to work in January 2012 he admitted he had not slept for five days in late October 2011.

Sants will continue to receive his full salary of £700,000 while away, part of a remuneration package estimated to be worth £3m.

Readers' comments (1)

  • Sods ----- Law.
    February.---- 2014.

    For almost two decades we have strived to get justice for the injustice we have suffered at the hands of a world renowned bank--- PICTET & CIE. BANK.

    Two yorkshiremen both running their own small family businesses trying to resolve the problem by taking all the correct legal procedures to recover their monies.

    The matter was raised in Parliament – twice-- the FSA investigated the matter concluding that PICTET had rogues operating in their London Bank --- but the rogues had left ---saying no one left to prosecute.??? ----- so there.

    We then approached the Financial Ombudsman Service. (FOS) --- our case was dealt with by seven different people ---- then our numerous E-Mails were ignored --- nobody would speak to us -------so there.

    We then asked the SFO ( Serious Fraud Office.) to investigate our case ---- the criteria of our case ticked all their boxes. --- we were instructed not to send them any documents/evidence.------ in fact they wrote to us advising us to go to the Citizen's Advice Bureau.(CAB.)

    Richard Alderman the SFO boss ---- who responded to our letter was the same man who would not investigate the “ Madoff” scandal or the “Libor” fiasco.
    The MP's committee ---- said he was sloppy--- and the SFO was run like “ Fred Karno's Circus” ----- it was an office of fraud.----- so there.

    Our M.P. approached our local Chief Constable to investigate----- he was called---- Sir Norman Bettison--- Chief Constable of West Yorkshire Police ---- a force that made “ Dad's Army” look like the S.A.S. They were inept – corrupt ---malicious --- from top to bottom. We were criminally dealt with by the Forces Solicitor---- the Head of the Economic Crime Unit ----and the Chief Constable ----- so there.

    We were then advised to pass our complaint against West Yorkshire Police to the I.P.C.C. – which we did --- they advised us to make our complaint to ---- the West Yorkshire Police --- we did with reluctance --- all we got was abuse and obfuscation. ----- so there.

    Sir Norman Bettison ---- The Forces solicitor--- and the Head of the Economic Crime ---- have all been removed from their posts and facing criminal allegations.
    ------ so there.

    We even sought justice through the Courts --- culminating in a visit to the Court of Appeal-London.--- On leaving the Courts of Appeal that day our barrister a “rising star” informed us --- that if that was Justice then you can keep it. He quit the law and moved to Canada ----- so there.

    A few years later we learned that one of the judges in our case at the Court of Appeal was related to a senior executive of the Pictet Bank -----so there.

    Pictet & Cie .Bank --- voted private bank of the year 2013.
    Ivan Pictet ---- Voted banker of the year 2012. ---- the senior partner --- lied on numerous occasions and had documents destroyed --- also said genuine documents were forgeries. ----- so there.

    Ivan Pictet in Oct. 2013 ---- Given the Legion of Honour --- but saying that ---- honours were given to Hitler --- Eichmann --- Mussolini ---Franco --- he's in fitting company. ----so there.

    MONTY RAPHAEL.Q.C. -- Peters & Peters.London. They were the banks lawyers.
    Monty Raphael.Q.C. along with Ivan Pictet withheld crucial documents requested by the High Court ---- the FSA ---- and the police Fraud Squad. ----so there.

    Monty Raphael.Q.C. became an Honorary Queens Counsellor in March. 2012.
    Monty Raphael.Q.C. became a Master of the Bench in Nov.2012.
    An expert in Fraud ---the Doyen of Fraud Lawyers. ----- so there.

    This says a lot about Banks --- the consensus of opinion is that they are highly paid “crooks” ---- no wonder they voted Ivan Pictet banker of the year.

    It appears that crimes in the “establishment.” are honoured by their peers.

    Full Story.---- “google or Yahoo”


    Ivan Pictet.Banker.
    Monty Raphael.Q.C.
    Ivan Pictet/Monty Raphael.

    Update --- Feb. 2014.

    Pictet & Cie Bank ---- List of Crimes.

    1996 ----- F.S.A--- Breach in London.

    2003 ----- F.S.A. -- States rogues operating in Pictet's London office. Ivan Pictet states that documents were forgeries but were later proved to be genuine in the British Courts. He had documents destroyed in their London office --hoping to hide the crimes.

    2007 .- - - The Securities and Exchange Surveillance issued a recommendation that the Prime Minister and The Commissioner of the FSA to take disciplinary action against Pictet Asset Management – Japan Ltd.

    2008 .-- Dec. - Pictet Bank state - " We have never chosen any funds linked to Madoff.

    2011 - - - Madoff Trustees sue Pictet & Cie. Bank for $156 Million.

    2011- - - Pictet & Cie Bank abetted a Bribery Scheme - Oil company sues Pictet for $350Million

    2012 - - - April – Geneva Bank Pictet used in Offshore Tax Scheme. ( USA.)

    2012 -- - June. -- Published in Anglo INFO .Geneva.--- USA Trust Fund Investors were sent false and fraudulent documents by Pictet Bank in order to collect large fees. ( Like MADOFF)
    Even after the SEC in the USA uncovered the fraud Pictet continued to charge fees and drain whatever was left in these accounts. Estimated that $90 million lost in this Pictet Ponzi scheme.

    2012 - - - July. -- De – Spiegel. -- states – Pictet Bank uses a letterbox company in Panama and a tax loophole involving investments in London to gain German millionaires as clients.

    2012 - - - August ---- German Opposition Leader accuses Swiss Banks of "organised crime."

    2013 --- Jan.--- Swiss MP' table motion to freeze Tiab Mahmud's assets of " criminal origins"
    held in Swiss banks – $18 million held in 5 accounts at Pictet & Cie. Bank. Bahamas.

    Ironically the Pictet & Cie.Bank partners are bigger criminals than the criminals who have accounts in the their bank.

    The bank is now seeking to re-structure -- to cut the partners liability – hoping to off load their decades of criminal responsibilty – and move onwards to carry out new crimes. The Germans are right -- the bankers should go to prison if found guilty of financial crimes..

    Both Ivan Pictet and Monty Raphael.Q.C. conspired to withhold crucial documents requested by the High Court – the FSA --- and the Police Fraud Squad.

    Written Parliamentary Questions received by the table office ..

    (1) To ask the secretary of state what steps he is taking to ensure that Swiss Banks such as Pictet & Cie do not evade criminal prosecution under EU law even when the illegal act is committed by a London based subsidiary.

    (2)To ask the secretary of state what steps he is taking to protect the rights of UK citizens who seek redress following criminal activities by Swiss banks with subsidiary offices located in London.

    Quote. ( America’s Top Lawyer .)
    You can be the richest man in the world with the best lawyers that money can buy but you cannot win against a man who has got nothing left to lose and is telling the truth.

    *** We note that there has been a sharp increase in Peters & Peters partners leaving to go to other practices. Moving does not alleviate them of any responsibility from any illegalities that may have occurred at Peters & Peters during their partnership tenure. From 1999 onwards.

    The consensus of opinion is the Pictet & Cie should be prosecuted , and that their U.K. banking licence should be taken away.

    Their Solicitors at Peters & Peters .London “ struck off and prosecuted..”

    *** Started campaign --- June 6th.2008.
    5years ---- approx 10 .5 million e-mails - - - but still no writs, injunctions or threats of litigation - - - WHY - - - because it is all true.

    *** . The bigger they are --- the harder they fall.!!! In America ---- they would have all been in prison for the last seven years.

    Feb 2013,--- Pictet & Cie Bank Partners remove their unlimited liability.They realise that all their personal wealth is at risk , the people they have conned might want their money back.

    Full Story.***
    . " Google " or " Yahoo" .

    Insert-- ( Charles Pictet. Banker.
    Insert-- ( Ivan Pictet.Banker.
    Insert-- ( Jacques de Saussure.Banker.
    Insert-- ( Nicolas Pictet. Banker.
    Insert-- ( Jean-Francois Demole.Banker.
    Insert -- ( Philippe Bertherat. Banker.
    Insert-- ( Renaud de Planta. Banker.

    Update. Jan. 24th. 2014.
    Over the last three years we posted the following on hundreds of sites . --

    *** Were currently waiting for the West Yorkshire Police ;-
    (1) Chief Constable . Sir Norman Bettison
    (2) Forces Solicitor. Mike Percival.
    (3) Head of Economic Crime Unit. Det Chief Inspector. Steven Taylor.
    -to see if they continue to cover up this case like the FSA. – “ watch this space.”

    **** We can now state that all the above have been removed from their posts. All three facing criminal allegations.
    **** These three senior police officials assisted in covering up the crimes carried out by Pictet & Cie Bank and it's lawyers.

    F.S.A.& Swiss Bank..—Pictet & Cie- - - ( Cover up crimes.)
    Points of Interest . ( Case – Peter Humphries & Jack Loach ).
    Pictet & Cie . ( Pictet Asset Management ).Feb. Updates.
    The bank and its officials deliberately withheld crucial documents requested under a High Court order .The bank and its officials deliberately withheld evidence from the Police , and one of its account managers Susan Broadhead gave a false witness statement to the police .
    Another one of its managers Nicholas Campiche ( Now Head of Pictet – Alternative Investments.) concocted a letter pretending to be a client and closed his account . The senior partner ( Ivan Pictet.) sought to have numerous documents destroyed , along with those copies in their London office of P.A.M. . Initially stating they were forgeries then their lawyers Peters & Peters - - Monty Raphael - - and barrister Charles Flint . Q.C. later had to admit in Court that the documents were genuine .
    (1). It is a criminal offence for a bank to knowingly act for an undischarged criminal bankrupt in so far as it seeks to assist that criminal bankrupt in the fraudulent movement of monies .( Money laundering .)
    (2) It is a criminal offence for a bank to lie to the police and the bankrupts
    trustee in bankruptcy in so far as any knowledge of , or dealings with the
    bankrupt was refuted .
    (3) A bank can be guilty of contempt of court if it fails to comply fully with
    the Courts order for discovery .
    (4) The banks contempt is further compounded if it fails to address its error
    after it is specifically drawn to its solicitors attention . ( Monty Raphael.)
    (5) It is a criminal offence under the financial services act to seek to destroy
    evidence that might be relevant to an investigation .
    (6) It is a criminal offence not to relinquish control of funds to the trustee
    immediately the fact of the bankruptcy is drawn to the banks attention .
    (7) It is a criminal offence to lie or otherwise obfuscate the lawful and proper
    Enquiries of the F.S.A.
    The Financial Services Authority. ( F.S.A.)
    The F.S.A. investigated our complaints for eighteen months , then when pressed by our M.P. They closed the file and told him it was not within their remit .
    (1) They had evidence to prove that crimes had been committed by one
    of the firms under their supervision . This same firm had already had
    a previous breach .
    (2) They state actual findings , - lack of supervision , lack of due
    diligence and money laundering .
    (3) The case was sent to Enforcement numerous times but no action
    was ever implemented . Even after they concluded that Pictet had a “rogue
    element” in their London office .
    (4) The F.S.A. were also guilty of perverting the course of justice for
    they knew full well that Pictet were lying and were guilty of numerous offences.
    In 2006 John Tiner. Chief Executive . F.S.A.. suggested it should have been within their remit , when pressed by our M.P. Then the Treasury in Jan 2008 confirmed it was within the F.S.A. remit. Yet this firm still operates .
    Solicitors. Peters & Peters. ( Monty Raphael.).
    Both Mr. Raphael and the Peters & Peters partners were fully aware of their clients Pictet’s criminal actions in relation to the Court Order and the police investigation . Mr Raphael was sent copies on several occasions of a list of numerous documents that he/Pictet & Cie had not handed over to the police/courts . This list sent to them even by our M.P.Mr Sheerman .
    Some of these were Pictet documents that Peters & Peters were aware of in the Civil action brought by Mr Loach . Yet they then omitted to give them to the police who were investigating this matter at exactly the same time .
    Mr . Raphael later admitted in a letter to Mr .Barry Sheerman .M.P. that he had only handed over part of the file to the police , when the Court .—Special Procedure Order clearly stated it required all files , documents , accounts , ledgers and other records .

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