Barclays PLC: Senior Management Change

Barclays PLC: Senior Management Change

Barclays PLC: Senior Management Change

The FINANCIAL -- Barclays has on October 12 announced that the Group Chief Compliance Officer, Michael Roemer, is leaving the business to take up a role leading the compliance function for a major US Bank.

Mr Roemer will step down from the Group Executive Committee and leave Barclays at the end of October 2017, according to Barclays.

Laura Padovani, currently Barclays’ Head of Global Compliance Services, will act as interim Group Chief Compliance Officer following Mr Roemer’s departure, while an internal and external search for a successor is undertaken. Ms Padovani will report to Barclays’ Chief Risk Officer, C.S. Venkatakrishnan.

Commenting today, Jes Staley, Group Chief Executive said:

“Mike has made a huge contribution in his nearly 6 years at Barclays, first as our Head of Internal Audit and then, since January of 2014, as the Group’s Chief Compliance Officer. He was instrumental in supporting the cultural transformation of Barclays subsequent to the LIBOR settlement, and in leading and recasting our Compliance Function to becoming the world class operation that it is today.

“His pioneering work in establishing the Compliance Career Academy in conjunction with the Judge Business School at Cambridge University will be a lasting legacy, and he will also be fondly remembered for his passionate support for the Diversity & Inclusion agenda, particularly for championing the LGBT community within the business. I want to thank Mike for his great service to Barclays, for his collegiality and support as a member of Group ExCo, and we wish him well in his new challenge back at home in the United States.”

Commenting, Mr Roemer said:

“My time at Barclays has been some of the most rewarding of my career. I am so proud of what the teams have accomplished in both Internal Audit and in Compliance. Barclays has been a wonderful place for me and my family and I am forever grateful. I wish all my colleagues health, happiness and continued success.”