Stay up to date with notifications from The Independent

Notifications can be managed in browser preferences.

David Prosser: HSBC keeps us all guessing

Thursday 30 September 2010 00:00 BST
Comments

Your support helps us to tell the story

From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.

At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.

The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.

Your support makes all the difference.

Outlook Also hoping to put its troubles behind it is HSBC. After the public infighting of last week, the bank's senior directors were all very gracious about each other yesterday as they met up in Shanghai for the board meeting that had been due to sign off on its management shake-up. Stuart Gulliver, HSBC's chief executive in waiting, was in particularly conciliatory mood, softening his tone on whether the bank might quit the UK.

Still, questions remain about what has gone on over the past week. If Michael Geoghegan, the current chief executive, really never expected to become chairman, why did he, or the bank, not say so amid all the speculation about whether he would get the job? Who – and it was clearly someone very senior – was responsible for the hugely damaging leaks, true or not, that so embarrassed HSBC last week? And what now for John Thornton, who many believe signed up for a non-executive directorship at the bank with the aim of becoming its chairman?

Join our commenting forum

Join thought-provoking conversations, follow other Independent readers and see their replies

Comments

Thank you for registering

Please refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in