HSBC recruits former MI5 chief

HSBC, fined £1.9bn last year for money laundering, appoints Sir Jonathan Evans as independent non-executive director HSBC – Britain’s biggest bank, which was last year fined $1.9bn (£1.3bn) for acting as banker for rogue states, terrorists and drug lords – has recruited the former director general of MI5 to join the board. Sir Jonathan Evans […]


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Dave Hartnett: one sweetheart deal too many

The hardman ended his career by becoming a soft touch. His appointments to Deloitte and HSBC won’t alter that reputation Until last summer the country’s top tax official, Dave Hartnett is taking up a job with tax consultancy Deloitte. Does this matter? Yes, it does; both in its specifics, and the light it casts on […]


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‘Big four’ banks cut 189,000 jobs worldwide in five years

Lloyds, HSBC, RBS and Barclays’ headcount drops to nine-year low, as profits surge and unions say worse is yet to come By the end of this year Britain’s four biggest banks will have axed 189,000 jobs around the world in the five years since the financial crisis broke, according to new calculations. The figures compiled […]


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HSBC under fire from all sides at AGM

Bank sees 11% of shareholders vote down the pay report as it is attacked by environmental campaigners, shareholders, former staff – and Bill Oddie Angry shareholders of HSBC on Friday bombarded the group’s board with barrage of accusations ranging from financing Mexican drug cartels to supporting tax havens, slashing jobs and mis-selling products. At the […]


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HSBC suffers investor revolt over pay

Some 11% of shareholders rebel against pay scheme, which includes £2m bonus for chief executive Stuart Gulliver HSBC suffered an embarrassing 11% shareholder rebellion against its executive pay report on Friday. Douglas Flint, chairman of the bank, said just 89% of investors voting ahead of its annual meeting supported its pay scheme, which handed chief […]


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HSBC faces court threat as deal on money laundering charges stalls

Judge may take action that could leave HSBC facing a criminal prosecution and threat to its ability to do business in the US HSBC’s controversial $1.9bn (£1.6bn) settlement deal with the US authorities over money laundering charges has stalled after a row between the justice department and the judge overseeing the case. The deal – […]


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Wrong sort code meant £3,000 went into a stranger’s account

My father accidentally transferred cash into someone else’s bank account. How can we get it back? In January my father tried to transfer £3,000 into my Co-operative Bank savings account from HSBC using telephone banking. Unfortunately, he used the correct account number, but the wrong sort code at the Co-op. Ever since, he has been […]


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HSBC warns on jobs as cost-cutting continues

In a strategy update, bank shifts focus to fast-growing markets and considers bigger dividend payouts to shareholders Some 14,000 more jobs are at risk at HSBC as chief executive Stuart Gulliver wields an axe to reduce costs, boost profitability and pay bigger dividends to shareholders. By 2016, he expects HSBC to employ around 240,000 staff, […]


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