EX-UBS banker to become head of regulator

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The Swiss government is set to appoint British-born former banker Mark Branson as the first non-Swiss national to head its financial regulator, two sources said, just as the body probes currency markets and prepares for a major review of big banks.

Reuters reports that the appointment was scheduled for debate in the Swiss government's weekly meeting on Wednesday, the sources, who are familiar with the matter, told Reuters.

A Swiss Financial Market Supervisory Authority (FINMA) spokesman was not immediately available for comment on Tuesday.

FINMA has already proposed Branson, who has worked at the regulator since 2010 and became deputy chief executive last year. Government approval is normally a formality in such situations.

There has been debate among Swiss lawmakers about the appointment, however, focusing on his stewardship of a division of Swiss bank UBS that was involved in criminal efforts to rig interest rates.

To access the complete Reuters article hit the link below:

Swiss set to make British ex-UBS banker head of financial regulator

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