(Bloomberg) --

Vindi Banga is expected to replace Robert Swannell as chairman of the U.K. Government Investments agency, Sky News reported, citing people familiar with the matter.

The appointment of the former Unilever executive, who also sits on the board of GlaxoSmithKline Plc, is expected to be signed off by the U.K. Chancellor Rishi Sunak. Swannell, the outgoing chairman, has held the post since 2014.

Sky News said a UKGI spokesman “referred enquiries to the Treasury, which has been contacted for comment.”

UKGI oversees interests in lender NatWest Group Plc and broadcaster Channel 4, among others. The U.K. government has recently announced a consultation to analyze a potential sale of Channel 4.

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