HSBC’s Indonesian subsidiary Bank Ekonomi to delist from the Indonesia Stock Exchange February 16, 2015 HSBC plans to integrate Bank Ekonomi, the Indonesian bank it majority owns, with its main operations in the country due to the illiquidity of shares. Bank Ekonomi, in which HSBC has a 99 per cent stake, has said it will delist from the Indonesian Stock Exchange from the start of Tuesday trading. "Bank Ekonomi has requested [...]
Phoenix chair Sir Howard Davies asks Clive Bannister to explain himself over HSBC February 16, 2015 Former private banking boss at HSBC Clive Bannister has come under pressure from the chairman of Phoenix Group, the insurance company he now runs, to explain his role at HSBC, after revelations that the bank’s Swiss arm helped some clients evade taxes. Phoenix chairman Sir Howard Davies contacted board members last week to inform them [...]
General Election 2015: Ed Miliband promises review of HMRC after HSBC tax avoidance row February 14, 2015 Labour has set its sights on the tax inspector, promising a “root and branch” review of HMRC following criticism of the investigation it made into tax avoidance which came to light from the HSBC Swiss bank leaks. Miliband made the pledge speaking at the Welsh Labour Conference in Swansea as the issue of tax avoidance [...]
Former HSBC boss Lord Green steps down as TheCityUK chairman over tax avoidance banking row February 14, 2015 The under-fire former boss of HSBC has quit his job as head of a City lobby group following revelations over tax avoidance at the bank when he was in charge. Green has been in the firing line after it was revealed HSBC's Swiss private banking arm helped clients evade and avoid hundreds of millions of pounds [...]
From HSBC and Greece to Opec and the Bank of England: What got us talking this week February 13, 2015 There was really only one story this week. HSBC was at the centre of a scandal that only progressed along with the week. By Friday it was facing a grilling from one select committee and an investigation by another, while the possibility of police involvement was also hanging in the air. There was even [...]
HSBC boss Stuart Gulliver memo: “Sometimes we failed to live up to standards expected by society” February 13, 2015 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". [...]
HSBC boss Stuart Gulliver memo: “Sometimes we failed to live up to standards expected by society” February 13, 2015 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". [...]
HSBC boss Stuart Gulliver memo: “Sometimes we failed to live up to standards expected by society” February 13, 2015 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". [...]
HSBC boss Stuart Gulliver memo: “Sometimes we failed to live up to standards expected by society” February 13, 2015 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". [...]
HSBC bosses Douglas Flint and Lin Homer to face parliament over Swiss tax evasion unit February 12, 2015 HSBC’s chairman will face MPs this month to explain what the bank has done to stop its Swiss unit helping customers to evade taxes. Douglas Flint has been summoned by the Treasury Select Committee, along with HMRC boss Lin Homer. The bank and the taxman have faced a storm of criticism this week on [...]