FSA set to vet bank directors - report

The Financial Services Authority aims to have a regulatory committee operating by the end of the year to vet the appointment of directors to banks, the Financial Times reported in its Friday edition.

Citing people close to the process, the newspaper said experienced bankers such as former Lloyds chief executive Sir Brian Pitman and former Barclays chairman Sir Peter Middleton have been lined up to serve on the committee.

The idea follows a recommendation in the Walker review, the government-commissioned report on bank governance authored by Sir David Walker, who could himself be a candidate for the committee, it added.