FSA's crash banker to be knighted
Sunday 30 December 2012
Printable
EmailThe man in charge of Britain's banking watchdog at the time of the financial crash is to be knighted for his "services to financial regulation."
Investment banker Hector Sants joined the Financial Services Authority (FSA) in 2004 and became its chief executive in summer 2007 - just as the credit crunch was taking hold.
MPs have said the FSA was "asleep at the wheel" during the crisis but Mr Sants won praise for running out with the dustpan and brush after the damage was already done.
In June he went on gardening leave just before the announcement of the £290 million fine for Libor rigging, which also occurred on his watch, that led three Barclays chiefs to walk.
Now Mr Sants has just joined Barclays - as head of compliance.
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