The former boss of RSA is said to be the preferred candidate, according to reports

Andy Haste, the former boss of RSA, is being tipped for the job of TSB chairman, following its recent re-launch as an independent high street bank.

He has been touted as the preferred candidate ahead of a planned flotation on the London Stock Exchange next year, Sky News reports.

Since Haste left RSA, he has taken on several roles, including the deputy chairmanship of Lloyd’s of London and an ad hoc role with Advent International, the private equity firm.

He was also previously said to be at the forefront of a bid for the general insurance division of the troubled Co-operative Group.

The Lloyds Banking Group has been forced to sell TSB under the orders of the European Commission in return for the state aid it received when it was bailed out in 2008.

An as part of its relaunch in September TSB made a commitment to restore local banking services to British communities.