FICC Markets Standards Board (FMSB), which was created in July 2015 to improve standards of conduct in the wholesale financial market, has appointed former UBS banker Mark Yallop as its new chairman.
Yallop will replace Elizabeth Corley, who presently heads FMSB on an interim basis. He will take up the position in July.
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Yallop has been a PRA Board member since 2014. Prior to that he was UK chief executive for UBS, spent six years as COO of ICAP and held senior positions at Deutsche Bank.
Bank of England governor and PRA board chairman Mark Carney said: "The FMSB has a critical role to play in improving standards in wholesale markets and is a real opportunity for industry to show leadership in making markets fair and effective.
"I am very pleased that Mark Yallop has agreed to take on this challenging role and continue the excellent progress made under Elizabeth Corley in getting the new standards board off the ground."
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