The Bank of England chief economist Andy Haldane has been tipped to be the top candidate to run as head of the Financial Conduct Authority.
The FCA is currently in the process of finding a replacement for Martin Wheatley, who will leave his position later this month.
The Sunday Times reports that Haldane is the frontrunner for the recruitment process, which will begin this week. The next FCA head will tak over the role in April next year.
One senior bank executive told the newspaper that Haldane “is definitely in the frame and is considered to be young and keen” although ”his one problem is probably a lack of experience in retail banking”.
According to the Sunday Times, Wheatley’s successor will be paid a basic salary of £460,000.
Wheatley, who will continue to act as an adviser to the FCA until January 2016, will be replaced on an interim basis by FCA director of supervision Tracey McDermott.