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According to FTAdviser's sister paper the Financial Times, the veteran British banker has been asked by UK Financial Investments (UKFI), the body which manages the government's stakes in nationalised banks, to take on the job and head up the integration of HBoS into Lloyds.

If Sir Win, 67, were to take the job he would replace Sir Victor Blank.

Sir Victor was ousted last month by UKFI, but is likely to remain in the position until after the bank's summer annual meeting.

According to the Financial Times, Sir Win was until last week lined up to become the next chairman of UKFI, however, has now been asked to step up to an even bigger role.

Sir Win carved out his career at Schroders prior to its takeover by Citigroup.

He later became chief executive of Citigroup followed by the company's chairman.