Ex-Barclays FD to advise FSA

Ex-group finance director of Barclays Naguib Kheraj has been appointed to
advise city watchdog the
on how to supervise large financial institutions more effectively.

Kheraj has been appointed to put into practice recommendations of the FSA’s
own internal audit into its handling of the Northern Rock affair.

These included a tighter reign on larger companies with increased
face-to-face communication and high-level meetings plus better educated staff as
well as an increase in human resources.

Hector Sants, chief executive of the FSA, said: ‘We are fortunate to have
access to the valuable industry perspective Naguib, as a senior banker of many
years experience, will bring to the FSA. His insight and understanding of
financial services will be invaluable to the newly created supervisory
enhancement programme team as they begin their task of strengthening our
supervisory process. A successful regulator has to seek constantly to learn,
change and improve, skills which Naguib has amply demonstrated over his long and
distinguished career.’

was group finance director of Barclays
from January 2004 until March 2007
and prior to that held a number of senior roles within the bank. Kheraj joined
Barclays from Robert Fleming, where he was co-head of global capital markets. He
was previously a managing director at Salomon Brothers.

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