An open letter to Stuart Gulliver: HSBC is now paying the price for its hubris in recent years. (2015)

“You have used this to stand off to one side, basking in the glow of your own hubris. This has to end.”

James Moore, The Independent, Tuesday 24 February 2015

(Addressed to the CEO of HSBC):

“During your results call you suggested, in response to the criticism HSBC has faced over the activities of its Swiss private bank, that we are holding large corporations to higher standards than others – the military, the church, the civil service, charities, even the media.

“….there’s a lot to criticise. In addition to Swiss tax dodging, how about foreign exchange rate rigging, money laundering, tax evasion, PPI mis-selling?

“Prior to these recent scandals, HSBC liked to act as if it was different from the other big UK banks, with its large reservoir of deposits, the fact that it had no need for a bail out, and with its august international business and reputation.

“You have used this to stand off to one side, basking in the glow of your own hubris.

“This has to end.”

Read the full article here: An open letter to Stuart Gulliver