HSBC boss Stuart Gulliver has admitted in a memo to the bank's staff that it failed to live up to expectations, after it was accused of helping thousands of customers of its Swiss private banking arm to evade tax.
Reuters reported today that the memo also indicated he had been called to give evidence to "lawmakers". Chairman Douglas Flint has already confirmed his appearance before the Treasury Select Committee on 25 February.
However, in his note Gulliver pointed to efforts made to change how the bank works.
I share your furstration that the media focus on historical events makes it harder for people to see the efforts we have made to put things right.
But we must acknowledge we sometimes failed to live up to the standards the societies we serve rightly expected from us.