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BoE to hold HSBC bosses' 'feet to the fire' in bank's transformation

Mar 05, 2015    

LONDON (Reuters) - HSBC's (HSBA.L) top two bosses will be held responsible for transforming it into a simpler institution, Bank of England Deputy Governor Andrew Bailey said on Wednesday, as Europe's biggest bank tries to clean up after a Swiss tax scandal.HSBC has admitted failings in compliance and controls in its Swiss private bank after media reports said it helped wealthy customers conceal millions of dollars of assets in a period up to 2007. It adds to a long list of banking scandals that have emerged since the financial crisis, including several at HSBC.Last week, HSBC Chairman Douglas ...

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