"Sants’ resignation from Barclays shows pitfalls of poaching": FT.

Patrick Jenkins in the FT: “There were plenty of distasteful quips around last week after Sir Hector Sants resigned from Barclays on the grounds of “stress and exhaustion”. “His departure, wags said, was hardly a shock: trying to fix Barclays’ broken compliance culture was too exhausting and stressful a challenge for any one man. Whatever the real cause, Sir Hector is unwell, and deserves some sympathy. Nonetheless, the episode illustrates a wider phenomenon and merits reflection. As the former chief executive of the UK’s Financial Services Authority, Sir Hector was one of the highest-profile recruits any bank has made from the regulatory world. His departure from Barclays after less than a year therefore prompts questions about the wisdom of regulators becoming bankers in the first place.
It is a trend that has taken hold in the past few years, as banks have tried to make up for lax regulatory controls before the crisis and, at the same time, respond to toughening post-crisis rules.”