Sainsbury’s chairman Sir Philip Hampton is being tipped as the new chairman of Royal Bank of Scotland, as the embattled UK lending giant prepares for life under state control.

RBS has been the subject of a £20bn injection of capital from the Government, with the departure of its top-level management duo – chief executive Sir Fred Goodwin and current chair Sir Tom McKillop – expected to result.

Hampton, a former finance director of Lloyds TSB, is thought to be in line for the chairman role, while British Land boss Stephen Hester has been touted as a replacement for Goodwin.

Hampton joined Sainsbury’s as chairman in 2004 after Sir Peter Davies was ousted by shareholders, having stepped up from the chief executive brief just three months previously.