Quarles set to take over as FSB chair

Randal Quarles

Federal Reserve vice-chair Randal Quarles is set to take over as chair of the Financial Stability Board, it has emerged.

Long rumoured to be a frontrunner for the role, Quarles looks set to be granted the position for a three-year term, with an announcement due shortly, according to people with knowledge of the matter, quoted by Reuters.

Netherlands Bank president Klaas Knot, who was also thought to be in contention for the role, appears likely to be appointed to the vice-chair position, with

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