The move comes a month after the bank was fined $618m (£ 393.8 m) by regulators in connection with traders' attempted manipulation of foreign exchange rates.

At the time, HSBC said it ‘does not tolerate improper conduct & will take whatever action is suitable’.

It was one of 6 banks collectively fined by United Kingdom & United States regulatory authorities complying with a 13-month investigation by regulatory authorities into cases that the foreign exchange  market - where banks and also various other financial firms buy and sell moneys between each other - was being rigged.

The regulators discovered that particular foreign exchange investors at the banks had co-ordinated their trading with one another to attempt to manipulate benchmark international exchange rates.

The huge market, in which $5.3 trillion well worth of moneys are traded daily, dwarfs the stock and bond markets.

About 40 % of the globe's dealing is estimated to experience trading rooms in London.

HSBC decreased to comment on Wednesday.