Former Santander and Barclays executive Stephen Jones set to be named head of UK Finance

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UK Finance is to be formed this summer when the British Bankers' Association merges with five other bodies (Source: Getty)

A new voice for the UK banking industry is expected to be named on Monday morning.

Stephen Jones, a former chief financial officer of Santander, is set to be named as the first chief executive of UK Finance, Sky News reported. Jones also formerly worked for Barclays.

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

The new trade association will become active from the summer when the British Bankers’ Association (BBA) will merge with five other bodies, including the Council of Mortgage Lenders and the UK Cards Association.

Jones emerged as the frontrunner at the end of last week after Anthony Browne announced he would be standing down from his role as chief executive of the BBA.

Read more: UK banking pressure group is looking to lobby the EU27

Browne had been in charge of the body since the summer of 2012.

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