Ex-Barclays finance boss Stephen Jones is being courted to lead new trade body UK Finance

Courtney Goldsmith
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UK Finance is being formed by the merger of six trade associations (Source: Getty)

A former chief financial officer of Santander UK has been approached about heading up the new trade body UK Finance.

Stephen Jones is being courted to lead the new trade body that is being formed from the merger of the British Bankers’ Association (BBA), Council of Mortgage Lenders (CML) and four other trade associations, according to Sky News.

It is not clear whether Jones, who left Santander in 2015, plans to accept the role if it is offered, but a decision could be made as soon as next week, sources said.

Read more: All the reasons the finance sector is great for the UK

Jones currently works as a senior adviser to Cerberus Capital Management, which bought a £13bn portfolio of Northern Rock mortgages two years ago.

The role of chief executive of UK Finance is highly regarded by City figures in light of the upcoming Brexit negotiations.

The possibility of an external candidate nabbing the job became more likely after Anthony Browne, the boss of the BBA, said he would leave later this year.

Read more: British Bankers' Association boss Anthony Browne to stand down

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