Barclays has recruited Hector Sants to fulfil a new role as the bank attempts to improve its regulatory compliance procedures.
The former chief executive of the Financial Services Authority (FSA) has been appointed head of compliance and government and regulatory relations at the major British financier and will take up his position on 21 January 2013.
This will mean that, for the first time, all compliance staff across the organization will report to one individual and Mr Sants is to operate separately from the bank's regional management and business teams.
In addition, the ex-FSA boss will also take full responsibility for maintaining Barclays' relationships with regulatory bodies and governments across the world.
Speaking after his appointment, the 56-year-old said he is "delighted" to have been asked by Barclays chief executive officer Antony Jenkins to "create and implement a new compliance concept and approach".
Meanwhile, Mr Jenkins praised Mr Sants for his "huge wealth of private and public sector experience".
By Gary Cooper