Skeoch to lead review into banking regulations
Keith Skeoch: will head up review
Former Standard Life Aberdeen CEO Keith Skeoch is to lead a Treasury review of banking regulations that could help smaller banks challenge their bigger rivals.
The veteran asset manager who retired from the Edinburgh institution this year will assess the operation of rules brought in after the financial crash in 2008.
Mr Skeoch’s review is expected to complement a revised Bank of England regime for regulating banks in post-Brexit Britain.
The Bank will work with the Treasury on how the City will operate from 1 January, particularly as financial services were not part of the Brexit deal agreed last week.
Mr Skeoch’s review will focus specifically on issues such as the separation of retail and investment banking operations and the use of riskier financial products, says the Mail on Sunday.
It is understood that large retail banks have built up deposits to plough into cheaper mortgages which have squeezed out competitors such as Tesco and Sainsbury’s bank.