RBS is in late-stage talks with regulators at the Bank of England to appoint Ross McEwan as its new chief executive, replacing Stephen Hester who stepped down last month, the Financial Times reported.
McEwan's selection as the preferred candidate was discussed at a board meeting on Wednesday, the Financial Times reported, citing two people familiar with the process.
However, regulators at the Bank of England's Prudential Regulation Authority (PRA) are yet to sign off on McEwan's appointment and should any problems arise, current finance director Bruce van Saun remained a fall-back candidate the FT said.
McEwan, a New Zealander, was recruited to run RBS's retail banking business in August 2012 and has been seen as the leading candidate for the CEO role.
He previously ran retail banking at Commonwealth Bank of Australia, a background which fits with the government's long-term strategy for RBS.
Assuming his selection is approved, his appointment could be announced as early as Thursday or along with the lender's second-quarter results on Friday, the financial daily reported.
RBS declined to comment. The PRA also had no comment.