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FILE - This March 13, 2011 file photo shows British director Howard Davies at the Olivier Awards in London. Award-winning British theater director Howard Davies has died at the age of 71.His family said in a statement Wednesday, Oct. 26, 2016 that Davies died of cancer Tuesday. He was active for many years in both London and New York, directing a series of well-received plays. In Britain he won the coveted Best Director Laurence Olivier Awards three times for his work on “The Iceman Cometh,” “All My Sons” and “The White Guard.” (Ian West/PA via AP, file)

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"It is a sad moment," said the bank's chairman, Howard Davies.

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