Stephen Green, the chairman of British bank HSBC (HBC), will step down to become the United Kingdom's new Trade Minister, BBC News reported.
The appointment will be announced later today, BBC News said without naming its sources.
There has recently been speculation that HSBC could move its headquarters out of the UK if it does not approve of reforms to be proposed by the country's banking commission.
Reading a Stock Quote
Learn to read the ingredients of a stock.View Course »