A not-for-profit firm arrange almost a decade in the past within the wake of the Libor rate-rigging scandal will this week appoint a veteran City banker as its subsequent chair.
Sky News understands Jonathan Moulds has been lined as much as head the Financial Markets Standards Board (FMSB), with an announcement anticipated to be made on Tuesday.
The FMSB acts as a standards-setting physique for international wholesale monetary markets.
Mr Moulds, who spent an extended stint in senior roles at Bank of America, joined Barclays in 2015 beneath then CEO Antony Jenkins.
He is now chair of Citi’s worldwide broker-dealer, CGML, is on the board of the London-listed monetary spread-betting operator IG Group, and chairs Litigation Capital Management, the publicly traded litigation funding supplier.
At the FMSB, Mr Moulds will exchange Mark Yallop, a former UK CEO of UBS, the Swiss banking big presently within the means of buying Credit Suisse in a rescue takeover.
The organisation was created within the wake of the Fair and Effective Markets Review commissioned by the Treasury, Financial Conduct Authority and Prudential Regulation Authority in response to a string of economic markets scandals.
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These included the Libor rate-rigging disaster, which noticed dozens of banks fined billions of kilos by regulators all over the world.
Global banks have been additionally fined substantial sums for his or her roles in manipulating gold costs and their use of ‘darkish pool’ buying and selling venues.
The FMSB, which counts dozens of banks and different market practitioners as members, couldn’t be reached for remark.
Source: information.sky.com”