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The chief govt of the Metropolis watchdog is on the centre of hypothesis that he has thrown his hat into the ring within the race to succeed Simon Case within the civil service’s prime job.
Sky Information has been instructed by numerous sources that Nikhil Rathi has expressed an curiosity within the cupboard secretary position.
It was unclear on Monday night whether or not Mr Rathi had made it via to a listing of about 9 contenders who had been attributable to be interviewed for the publish final week and this.
The FCA and Cupboard Workplace each declined to remark.
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Mr Case introduced within the autumn that he would step down on the finish of the yr on well being grounds, following months of hypothesis about his future.
Final week, The Guardian reported that Oliver Robbins, the previous Brexit negotiator, was on the longlist of candidates, and described him because the “possible favorite”.
Quite a lot of Whitehall departments’ everlasting secretaries are additionally on that listing, together with Dame Antonia Romeo on the Ministry of Justice, and Sarah Healey, her peer on the Ministry of Housing, Communities and Native Authorities.
Mr Rathi has vital credentials for the position, having served as personal secretary to each Tony Blair and Gordon Brown throughout their respective stints as prime minister.
Simon Case is seen in Could. Pic: PA
He additionally spent practically a decade in senior Treasury posts, together with as head of its monetary stability unit and as director of its monetary companies group.
In 2014, he joined the London Inventory Alternate, changing into its chief govt in 2015.
Even when Mr Rathi just isn’t in competition for the cupboard secretary position, the Treasury is anticipated to wish to start a seek for his successor subsequent yr.
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Mr Rathi reaches the top of his first five-year time period subsequent September, and is taken into account to be not possible to hunt a second time period within the job.
Throughout his time on the FCA, he has needed to deal with an typically tough relationship with the federal government, with public rows about its enforcement regime and strategy to financial progress punctuating his tenure.
In her speech on the Mansion Home final week, Rachel Reeves, the chancellor, mentioned that regulation of the Metropolis after the banking disaster had gone too far, and that watchdogs now wanted to “regulate for progress”.
