Royal Bank of Scotland Group PLC will appoint Alison Rose to be its next CEO, replacing Ross McEwan, a number of U.K. media outlets reported.

According to Sky News, which was first to report RBS' CEO decision, regulators are already considering the British bank's application to appoint Rose to the role. The bank is expected to officially announce her appointment before the end of August, and she could formally take over as CEO before the end of the year, the Financial Times reported, citing two sources familiar with the plans.

Rose previously had been touted as the front-runner to replace McEwan, who recently was tapped to become group CEO and managing director at National Australia Bank Ltd.

The purported selection of Rose, who currently heads RBS' commercial and private banking business, would mark the first time a woman has taken the helm at a major U.K. bank.