Reuters reports that after eight years, Sands is one of the longest serving CEOs at a major global bank. But a series of problems in the last two years and a rise in bad debts have raised questions about his ability to steer the bank through a low growth era.
The bank will be in the regulatory spotlight for at least three more years after U.S. prosecutors on Tuesday extended a period of scrutiny to 2017, following sanction breaches for which it was first punished in 2012.
Three of the bank's biggest 30 shareholders told Reuters Sands should be replaced, probably next year. Two more top 30 investors said they were unhappy with its governance and wanted changes, although they did not say Sands had to go.
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