Hong Kong-listed shares of Standard Chartered, the emerging markets focused bank, fell as much as 2.8 per cent to HK$108.10 in mid-morning trading.
The decline followed reports that StanChart is looking to replace chief executive Peter Sands this year, after calls from some of the bank's largest shareholders to accelerate its succession planning.
As the FT's Martin Arnold reported, Mr Sands, one of the longest serving chief executives at any large global bank, has been blamed by Singapore's Temasek and the UK's Aberdeen Asset Management, which together own almost 30 per cent of the bank, for not responding fast enough to a reversal of StanChart's fortunes.
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