The leading candidate to become the next chairman of Royal Bank of Scotland will have to meet the chancellor to discuss his or her vision for the bank before formally receiving the role.
Royal Bank of Scotland had hoped to announce the replacement for Sir Philip Hampton alongside its annual results on Thursday but, sources said, the process might take longer, with some predicting that a decision will not be made until after the election because of the difficulty in finding the right person who is prepared to take on the role.
One of the leading contenders is Sir Howard Davies, chairman of the Phoenix insurance group and the first chairman of the Financial Services Authority when it was created in 2001.
UK Financial Investments,