Standard Chartered PLC’s (LON:STAN) former finance chief, Richard Meddings, has reportedly been lined up as the next chairman of challenger bank TSB.
Meddings is said in talks about joining the board of TSB, the lender spun out of Lloyds Banking Group four years ago.
Sky News reported, citing sources, that Meddings would join initially as a non-executive director before replacing Will Samuel as the bank's chairman next year.
If appointed, it would mark his return to the UK banking sector after a three-year absence.
Meddings left Standard Chartered in 2014 after 11 years at the bank. Since then he has joined Deutsche Bank’s supervisory board in 2015.
Lloyds sold TSB to Spanish group Banco Sabadell in 2015 after the European Commission ordered it to sell branches as part of its £20bn bailout during the height of the financial crisis in 2009. TSB was delisted from the London Stock Exchange as part of takeover.
The lender had to tackle a number of challenges in becoming independent of its former parent Lloyds but has since made a comeback. In July TSB reported a management pre-tax profit of £111mln, up £3.3mln on last year.