McEwan’s appointment, which replaces Stephen Hester, is pending receipt of approval from the Bank of England’s Prudential Regulation Authority.
RBS, which is 80% owned by the UK’s government, is looking to salvage its image from legal scandals as well as weaker financial performance.
McEwan, who has worked with Commonwealth Bank of Australia, will focus on retail banking operations instead of investment banking business.
Following the receipt of approval, the bank would announce the appointment alongside second-quarter results, The Financial Times reported.
However, in the event of non-selection of McEwan, the bank’s current finance director, Bruce van Saun, will be the fall-back candidate, the news agency added.
The UK-based lender has been ordered by the European Commission in 2009 to divest its unprofitable operations, as part of the terms of £45.5bn government bailout package it received during the financial crisis of 2008.
