British ex-banker Branson tipped for top of Swiss bank watchdog

City A.M. Reporter
A BRITISH-BORN former UBS banker is tipped to lead Switzerland’s financial regulator after the current head's surprise exit, reported Schweiz am Sonntag, citing undisclosed sources.

Mark Branson, named temporary head of Finma when chief executive Patrick Raaflaub stepped down suddenly last Wednesday, is favuored by the regulator’s board and the outgoing CEO to take over permanently, the paper said.

A spokesman for Finma said the search to replace Raaflaub as CEO was under way, and declined further comment.

Though Branson spent 10 years at UBS and worked for Credit Suisse before that, has settled in Bern and speaks at least one Swiss language, it is unclear whether a British national as financial overseer would be politically acceptable.