The UK finance minister is reportedly weeks away from naming a new CEO of the financial watchdog.

Mark Branson, the chief executive of Switzerland's Financial Market Supervisory Authority (Finma), is said to be among the contenders for the top position at the UK's Financial Conduct Authority, according to a report by Sky News.

Chancellor George Osborne is expected to decide “within weeks” on the successor to Martin Wheatley, who stepped down as CEO of the FCA after the government said the regulator needs “different leadership” in July. Branson has led Finma only since April last year.

Others understood to have been interviewed for the role are the FCA's acting CEO Tracey McDermott and Greg Medcraft, chairman of the Australian Securities and Investments Commission, according to the report.

Wheatley, who officially left in September after four years at the helm, is continuing to act as an advisor to the watchdog's board until 31 January next year.

The FCA has seen a considerable amount of high-level to and fro over the last year, including the exit of Clive Adamson, who had been under fire over his role as head of supervision, and the appointment of Georgina Philippou as its new chief operating officer.

The FCA declined to comment and WealthBriefing is awaiting a response from the Treasury. 

A spokesperson for Finma said: “Mark Branson is very committed to Finma and his CEO role and is not available for other positions.”