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One in 10 drop bid for UKbank jobs on vetting, Reuters says

[LONDON] More than 10 per cent of people selected for the most senior positions in UK banking withdraw their applications amid the vetting process, which has gotten tougher since the financial crisis, Reuters reported.

Of the 186 applications processed for the most senior jobs since April 2013, including chief executive officer, chairman and a handful of other positions, 22 people withdrew, Reuters reported, citing a freedom of information request and published data.

The Prudential Regulation Authority and the Financial Conduct Authority have made the review process more rigorous since the banking crisis of 2008.

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