Naguib Kheraj will run the supervisory enhancement programme set up by the Financial Services Authority
For a man who wanted to escape the grind of form-filling and general pen-pushing, Naguib Kheraj seems to have jumped from the frying pan into the fire. The former finance director of Barclays, who left in October 2006 in part because he was tired of the tedium of Basel II, Sarbanes-Oxley and the numerous other regulations that govern the corporate day, has joined the financial regulator as a senior adviser.
Mr Kheraj will run the supervisory enhancement programme set up by the Financial Services Authority (FSA) to beef up its regulation of banks in the wake of the Northern Rock debacle. Hector Sants, chief executive of the FSA, believes that the regulator has hit the jackpot with the appointment, describing Mr Kheraj's input as “invaluable”.
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