Barclays just lost its head of US compliance

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Jill Ostergaard, managing director and chief compliance officer at Barclays Investment Bank in the US, has left.

We understand that Ostergaard's last day in Barclays' New York office was last Friday, although she will continue to work with the bank to manage the transition to her replacement. The reasons for her exit and her future intentions are unclear.

Barclays declined to comment on Ostergaard's departure. The bank has promoted Kevin McKay to replace her. McKay joined Barclays Wealth's US division as general counsel in February 2015. 

Barclays' compliance function has been subject to high levels of scrutiny ever since Hector Sants quit Barclays investment bank as head of compliance in 2013 complaining of stress. Ostergaard joined Barclays in 2012. Previously, she was chief compliance officer at Morgan Stanley.

Barclays has been fined $70m by US regulators for misleading investors and violating securities law in the way it operated its dark pool. Barclays' hired David C. Johnsen to manage its dark pool, despite Johnsen having previously been fired by Goldman Sachs for, ''concerns related to the performance of his supervisory responsibilities'.

Photo credit: New York by Taylor and Kevin is licensed under CC BY 2.0.


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