Former HSBC boss Lord Green quits banking lobby group

Source: The Guardian

Peer to step down as TheCityUK advisory council chair amid claims HSBC Swiss subsidiary enabled tax dodging while he was in charge

Saturday 14 February 2015 13.47 GMT

Lord Stephen Green, the former HSBC boss at the centre of the storm over the bank’s alleged tax dodging, is to resign from his role with an influential financial services lobby group.

The peer, who also served as a trade minister in David Cameron’s government, will step down as chair of TheCityUK’s advisory council immediately.

Sir Gerry Grimstone, chair of the board of TheCityUK, which promotes banks and the financial services industry, said Green was doing the right thing in a move that was entirely his own decision.

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Shadow treasury minister Chris Leslie called on Green to give a full explanation of what he knew while running HSBC.

Read more: http://www.theguardian.com/business/2015/feb/14/hsbc-lord-green-quits-advisory-body-tax-dodging-claims