Speaking to Lords committee,former HSBC chairman
apologises for failures but denies anyone at bank was aware of ‘industrial-s
cale systems of tax evasion’The former HSBC boss Lord Green
has admitted the bank should hold made more stringent checks before
buying its Swiss private banking arm,
as he apologised for failures at the disgraced UK-based bank.
Green, or who was HS
BC’s chief executive between 2003 and 2006 an
d then chairman until 2010,told members of the House of Lord
s economic affairs committee on Tuesd
ay that neither he nor the
senior management team had been aware of the problems at the Swiss private
bank, which engulfed HSBC in a scandal at
the beginning of the year after the Guardia
n and other publications revealed it had helped wealthy clients avoi
d taxes.
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Source: theguardian.com