MPs plan to quiz Sants on Barclays role

Senior MPs want to call Hector Sants, the former chief executive of the FSA, before the banking standards commission to explain how he will overhaul Barclays' troubled culture.

Sants is joining Barclays as head of compliance next year but is already facing questions about his decision three years ago to clear one of the bank's most controversial deals, the Telegraph reports. This involved moving $12.3bn (£7.5bn) of toxic assets into an off-balance sheet company called Protium. Mark Garnier, a member of the parliamentary commission on banking standards, told the Telegraph he now wants Sants to give evidence before the sub-panel on corporate governance. "I would like him to explain how he is going to change things at Barclays and to ask him about his judgme...