The son of Deputy Prime Minister Sergei Ivanov, whose name is also Sergei Ivanov, is slated to join the supervisory board of Rosselkhozbank, Moskovskiye Novosti reported.
Dmitry Patrushev, son of Security Council head Sergei Patrushev, has led the management board of the state agricultural bank since May last year.
"Following the orders of President Dmitry Medvedev to replace officials on the boards of state companies with independent directors, they are being replaced by their children," the paper quipped.
A spokeswoman at the bank contacted by The Moscow Times said she could neither confirm nor deny the story. A source close to the bank said, "The media reports are in line with the current trend to replace government officials on boards."
First Deputy Prime Minister Viktor Zubkov sent the request to appoint the younger Ivanov to Prime Minister Vladimir Putin, who supports the move, and the documents for finalizing the assignment are being processed by the government, the paper reported.
The younger Ivanov previously served as deputy chairman of the board of Gazprombank, where he oversaw relations with corporate clients and was responsible for interfacing with state authorities.
He is also chairman of the board of insurance company Sogaz.