Banking News

Ex-Santander CFO tipped to lead newly merged UK finance associations

Ex-Santander CFO tipped to lead newly merged UK finance associations

(20 April 2017 – United Kingdom) A former chief financial officer of Santander UK is the likely candidate to lead the United Kingdom’s banking industry through Brexit.

According to reports, Stephen Jones is being courted to become the chief executive of UK Finance - which is being formed from the merger of the British Bankers' Association (BBA), Council of Mortgage Lenders (CML) and four other trade associations.

Jones, who departed Santander two years ago is said to be the preferred appointee, as the final decision is expected to be made before the end of the month.

However, some high street lenders have put support behind former Labour Treasury minister Chris Leslie to put his name forward for the chief executive's post, although he had indicated prior to June's General Election being called that he was not interested in the position.

A review last year found that the BBA, CML, Payments UK, the UK Cards Association and two other bodies should merge in order to reduce costs and create a more effective dialogue with policymakers.

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