SIR Philip Hampton is expected to step down as chairman of the Royal Bank of Scotland in a bid to take the top position at GlaxoSmithKline.
The businessman, a former chairman of supermarket chain Sainsbury's, is due to be confirmed as Glaxo's chairman-designate before the weekend, Sky News reported.
He has been at the forefront of RBS's turnaround efforts after taking the role of chairman in early 2009 alongside chief executive Stephen Hester.
Sir Philip is expected to take over at Glaxo from Sir Christopher Gent in the middle of next year, while RBS has reportedly already engaged headhunters ato find its next chairman.
His planned departure from the RBS board comes with the Government still a long way from returning the bank to private hands.
Drugs company Glaxo has been in the spotlight recently after it was fined £297 million and a former manager handed a suspended jail term in China for bribery.
Sir Philip has been finance director at Lloyds TSB, BT, British Gas and British Steel and is a former chairman of UK Financial Investments, which manages the UK Government's shareholdings in banks.
A GSK spokesman declined to comment on Mr Hampton's future role but said: "Succession planning is well under way."
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