executives it shortlisted in the hunt for a chief executive officer to see whether they still want the job, board chairman Sir David Gibbons said.

The position was given to John Tugwell, who quit suddenly last week after four months on the job. Now, with the position vacant again, the troubled bank is having to scramble for a replacement. Sir David said Mr. Tugwell has indicated he would like to leave within three months, but would stay on until a replacement is found. Mr. Tugwell was reported to have quit because his wife did not like living in Bermuda.

Sir David said the bank's selection committee was being reactivated to search for the new chief executive officer.