The Royal Bank of Scotland (RBS) is getting closer to naming its new chief executive, with an announcement expected in the next few weeks.
Stephen Hester is leaving the state-backed company, which is currently going through the shortlist of internal and external candidates.
However, it may end up being delayed until September as the lender will need to get approval from the Treasury before making an appointment, the Telegraph reports.
Head of RBS’s retail banking business Ross McEwan and the firm's finance director Bruce van Saun are seen as the leading internal successors to Mr Hester.
David Roberts, the deputy chairman of Lloyds Banking Group, and Mark McCombe, the former chief executive of HSBC’s Hong Kong-based operations, are seen as the leading outside candidates.
RBS will likely require the successful candidate to commit to the role at least until the bank moves back into the private sector, which could be happening as soon as next year.
By Gary Cooper