Professor Philip Lane:

Prior to launching any appointment phase, we are looking again for precisely what the Deputy just said. The scale of financial regulation is so demanding, we are trying to come up with a configuration which ensures that entire sphere is promptly handled. Within a number of weeks, we will have a revised set-up. Until that set-up is there, I do not want to launch a competition. It will be soon but it makes sense to have a little bit of reconfiguration which we are working through.