I reckon the The George Lee thing is more of a joke than a rumour! He is an economist, not a banker or a regulator.
The central bank needs a banker, preferably a former governor or highly placed official of a successful foreign central bank from years gone by.
The regulator needs somebody with enforcement management skills and also needs to be from outside the system. I think we need somebody who has carried out compliance checks within a bank and knows how people try to avoid compliance and the indicators of non compliance at a macro and micro level. An American who would bring an american white collar compliance ethos might work well.