Miliband aims for Green over HSBC scandal

LABOUR yesterday stepped up the pressure on trade minister Lord Green to answer questions about his time at the helm of HSBC, following revelations about the bank’s involvement in money laundering.

“Green must come to the House of Lords to answer questions about his role and his involvement in the HSBC issue and must answer the question of what he knew and when he knew it,” said opposition leader Ed Miliband.

Labour’s Baroness Royall yesterday sent a letter to the leader of the House, Lord Strathclyde, demanding he calls Lord Green to address the upper chamber before the summer recess begins next week.

Green was chief executive of HSBC between 2003 and 2006, then chairman until he was appointed a Conservative peer in 2010. Currently a minister for trade and investment, he also acts as a banking adviser to chancellor George Osborne.

But his reputation took a hit this week after a damning US Senate report highlighted the bank’s dealings with rogue states and drug cartels during his tenure. One senator said the bank’s compliance culture had been “pervasively polluted for a long time”.

Green has yet to comment on the allegations.