BRUSSELS (Reuters) - EU chief executive Jean-Claude Juncker has accepted in principle the nomination of Julian King as the new British member of his European Commission and will determine this month what portfolio to offer him, the Commission said on Monday.

Outgoing Prime Minister David Cameron nominated King, the British ambassador to France, to fill the vacant seat on the Commission left by Jonathan Hill, who resigned after Britons voted last month to leave the European Union.

Juncker, the president of the Commission, met King in Brussels on Monday morning.

"President Juncker was able to establish Sir Julian's European competencies. On the basis of this meeting and his biography, the president is reflecting on possible portfolios and he will announce his decision by the end of this month," Commission spokesman Margaritis Schinas told a news conference.

Hill's financial services portfolio has been taken on by current Commission vice president Valdis Dombrovskis. King is expected to taken on a lower profile post. However, asked whether he ruled out King ending up with no portfolio, Schinas replied: "Yes, I'm tempted to exclude this possibility."

King's appointment will be subject to review by the European Parliament, which will return from its summer break in late August, and to confirmation by the Council of EU member states.

(Reporting By Philip Blenkinsop; Editing by Alastair Macdonald)