Barclays Plc (BARC)’s global head of compliance for consumer banking and the Barclaycard credit-card unit, Jeremy Marsden, has left after less than a year in the position, according to a person with knowledge of the matter.
Simon Thorn has become head of compliance for retail, corporate banking and wealth management after the units were merged, said the person, who asked not to be identified because they weren’t authorized to speak publicly. He was previously head of global compliance services at Barclays.
Marsden had been with Britain’s second-biggest lender by assets since 2005 and took his most recent position in August, according to the British Bankers’ Association website. He has been listed as inactive since May 30 on the U.K.’s Financial Services Register. Marsden couldn’t be reached through calls to Barclays.
Compliance executives are in demand as global lenders come under investigation from regulators over misconduct issues and look to meet rules introduced in the wake of the 2008 banking crisis. In January, Barclays named Michael Roemer head of compliance, two months after Hector Sants stepped down, citing “stress and exhaustion.”
“There are very few people who are qualified to do these roles,” Nick Hedley, partner at compliance recruitment firm Hedley May LLP, said by telephone. “It’s become considerably more challenging and more high profile.”
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