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UK-based lender says it has started formal process to find successor

Crisis-hit sector had ‘deep’ correction but can now recover, says Noel Quinn

Move would be a significant early step by chief executive Georges Elhedery

Bank is one of employers that withdrew job offers to foreign graduates after Britain tightened visa rules

UK-based bank has more than $3bn in exposure to defaulted commercial real estate loans in the territory

Discussions come as bank’s new boss pushes through cost-cutting drive

Shares close down 8.4% as UK-based lender takes several charges in ‘messy’ final quarter of 2023

Shares slide as bank takes several charges in ‘messy’ final quarter of 2023

Bank could scale back in countries including Mexico as it seeks further cost cuts

UK-based lender reports $2.3bn fourth-quarter profit and says overhaul will cut its annual cost base by $1.5bn from next year