Turkey regulator rejects bank CEO candidate

Turkey’s banking watchdog vetoed the appointment of Kerim Rota to chief executive officer of Odea Bank, a unit of Lebanon’s Bank Audi, raising concern about political interference in the industry.

The regulator in Ankara didn’t provide a reason for declining Odea’s choice for CEO, Bloomberg reported on Monday, citing two people with direct knowledge of the matter.

Rota was previously head of treasury for Akbank, one of the country’s largest banks, and was known to be a critic of central bank monetary policy. He left his job in January to take up the position at Odea.