LONDON (Reuters). Barclays (LON)’s Chief Executive Jes Steley abruptly resigned from the bank Monday in the wake of a disagreement with British financial regulators about how he described his relationships with Jeffrey Epstein, a convicted sex offender.

C.S. Venkatakrishnan is a well-known Venkatakrishnan who used to be Head of Global Markets.

Below are five facts you need to know about Venkat

JPMORGAN ALUM

Venkat is among a number of Barclays’ senior executives that were recruited from JPMorgan (NYSE) and Staley. Paul Compton was the Global Head of Investment Banking and Staley’s right hand man during recent restructurings of Barclays’ group entities.

Tushar Mrozaria is the former Chief Financial Officer for the U.S. investment bank, before becoming the Barclays CEO under Staley. Ashok Vaswani worked as a JPMorgan-funded private capital firm, and now leads Barclays’ consumer lending division.

PLAN FOR BEHIND THE-SCENES SUCCESION

Although Staley’s sudden departure was unexpected, the British lender claims it had been planning for succession “for some time”. According to the stock exchange announcement Monday, the bank claimed that it has been looking at potential outside candidates but had identified Venkat as its preference candidate more than a year prior.

Barclays raised its ranks by promoting Venkat, the group chief risks officer, to head global markets. Venkat will now have a chance to run for the critical investment bank unit.

SAFE PAIR OFHANDS

Barclays is hoping Venkat’s experiences as group chief risks officer (2016-2020) will give him some security after Staley’s unpopular tenure.

As a JPMorgan risk manager, he raised concerns about the possibility of huge losses due to derivatives trading. The scandal was later called “London Whale”, and led to a loss of $6.2 million.

An investigation by the U.S. Senate found that some losses could be avoided if JPMorgan had heeded to Venkat’s warning. Bloomberg reports this month. Venkat is known for being unflappable and his fondness for emojis, even during crisis.

Venkat is a graduate of the Massachusetts Institute of Technology with a Bachelor’s Degree, Master’s Degree and a Doctorate.

BIG MONEY

Venkat will have a base salary that is higher than his predecessor. The reason for this change in pay comes amid an extremely competitive market where banks are largely putting COVID-19 costs aside. Venkat will receive 2.7 million pounds ($3.69 million) in fixed pay – half in cash and half in shares. It’s more than Staley who receives 2.4million pounds per year. However, Venkat will still get a cut of Venkat’s undisclosed fixed pay as head global markets.

Venkat is also eligible for a bonus equal to 93% of his fixed salary and long term incentive up to 140%. He will also qualify for cash payments in lieu of pension up to 135,000 pounds per year.

Staley received an overall salary package of 4,000,000 Pounds last year.

PROTEGE

According to a memo sent to employees by Reuters Monday, Venkat will likely follow the same strategy that Staley in the short term.

He wrote, “Jes has been a my manager mentor and friend for many decades.”

We believe the strategy that we have put in place is the best one. This will allow us to continue with our plans for transformation and financial strength.

($1 = 0.7311 pounds)