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A not-for-profit firm arrange practically a decade in the past within the wake of the Libor rate-rigging scandal will this week appoint a veteran Metropolis banker as its subsequent chair.
Sky Information understands Jonathan Moulds has been lined as much as head the Monetary Markets Requirements 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 a protracted stint in senior roles at Financial institution of America, joined Barclays in 2015 below then CEO Antony Jenkins.
He’s 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 Administration, the publicly traded litigation funding supplier.
On the FMSB, Mr Moulds will change Mark Yallop, a former UK CEO of UBS, the Swiss banking large at present within the technique of acquiring Credit Suisse in a rescue takeover.
The organisation was created within the wake of the Truthful and Efficient Markets Overview commissioned by the Treasury, Monetary 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 world wide.
World banks had 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.
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