The chief executive of Switzerland’s financial watchdog has been approached by the Treasury to fill the role vacated by Martin Wheatley at the FCA, according to Sky News.
Sky News reports that Mark Branson, the chief executive of Switzerland’s Financial Market Supervisory Authority (Finma) is one of a handful of candidates approached by Chancellor George Osborne about the role, which is expected to be filled within the coming weeks. Other candidates are believed to be Tracey McDermott, the acting chief executive and Greg Medcraft, chairman of the Australian Securities and Investments Commission plus one other unnamed candidate.
At least one other candidate made it to the shortlist, they added.
Branson, a former maths graduate from Cambridge University, joined Finma five years ago as head of its banks division.
He was formerly in charge of UBS’s Japanese securities unit, when individuals working at the division were involved in Libor manipulation. In December 2012 the FT reported that MPs from Switzerland’s Green Party and Socialist Party had called for his resignation, although a Finma representative said he had been cleared by five investigations into Libor manipulation.