UK Finance is seeking ex-Santander chief financial officer Stephen Jones to be its first chief executive, according to reports.
While it’s unclear whether he has accepted, speculation is rife that the new ‘super trade body’ could make an announcement about his appointment as early as next week.
Jones is currently chairman of Capital Home Loans and a senior adviser to Cerberus Capital Management, which purchased a £13bn portfolio of Northern Rock mortgages two years ago. He has also worked at Barclays.
UK Finance will be an amalgamation of the Council of Mortgage Lenders, British Bankers’ Association, Asset Based Finance Association, Financial Fraud Action UK, Payments UK and the UK Cards Association.
The trade body’s chairman Bob Wigley started work on 1 March with the remit of appointing a chief executive in the summer.
UK Finance is expected to launch around the same time.
This week the chief executive of the British Bankers’ Association Anthony Browne announced his intention to quit once the merger takes effect.