The head of compliance at British banking giant HSBC resigned in front of a US Senate subcommittee today after it emerged the bank had exposed the US to billions of dollars worth of money laundering, drug trafficking, and terrorist financing.

Banking giant HSBC announced a new UK boss today as part of a management reshuffle by incoming chief executive Stuart Gulliver.

UK banking giant HSBC today said 1,200 UK jobs were under threat following a review of the business.