The board is though to be ready to appoint Hester within a fortnight, following the departure of top man Ian Harley over the summer.
The former Credit Suisse First Boston employee is thought to have found favour in the City and from chairman Lord Burns for his drive to cut costs, reshape the company around the core businesses of lending and mortgage, and for imposing a more efficient risk management system.
Other candidates for the job include Barclays deputy chief executive John Stewart, the Royal Bank of Scotland’s head of retail Gordon Pell and Northern Rock chief executive Adam Apple.
Does Darwin's theory apply to taxation? Colin ponders...
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states
Accountancy watchdog the FRC has dropped its investigation into the former chief financial officer of Tesco, nearly two years after the supermarket was engulfed in an accounting scandal
Colin imagines how Apple's logo might change in the wake of the EC's ruling over its Irish tax arrangements