New Challenges for HSBC
Two senior HSBC executives and one non-executive director will face further question from MPs over the operations at the bank’s Swiss arm, BBC reports.
Two weeks ago Swiss private banking division of HSBC was accused for the collusion between the bank and its clients to evade tax. The chief executive Stuart Gulliver said that the tax scandal had damaged the trust and confidence among the company.
Mr. Gulliver and the former head of the bank’s private banking division Chris Mears will face MPs on the Public Accounts Committee (PAC). Although the bank has the list of reforms, it can not exclude the possibility of further problems.
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