Ex-UBS Chief In Frame To Head Bank Watchdog

A former Deutsche Bank and UBS executive has emerged as a surprise contender to become Britain’s top banking regulator.

Sky News has learnt that Mark Yallop, whose CV also includes a spell as chief operating officer of Icap, the interdealer broker, is in the frame to become the next chief executive of the Prudential Regulation Authority (PRA).

Mr Yallop is already a non-executive director of the PRA, having been appointed in the summer of 2014, but a Whitehall source close to the process said he had indicated he would be interested in succeeding Andrew Bailey as its chief executive.

The news of Mr Yallop’s involvement in the process comes as George Osborne, the Chancellor, closes in on a decision about who will take over at the PRA.

Read on.

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