The Business Times
SUBSCRIBERS

Directors of UK business did not quit due to jail threat: HSBC chairman

Published Mon, Dec 1, 2014 · 09:50 PM

London

TWO directors of HSBC's British business have expressed concerns about new rules that can result in jail sentences for senior bankers, but only one has resigned, and that was mainly due to extra demands on his time, the bank said.

HSBC chairman Douglas Flint said in a letter publicly released on Monday that Alan Thomson had resigned from the board of HSBC Bank plc on Sept 4 and left at the end of October. Mr Thomson had "some incremental concerns surrounding the application of the new senior manager's regime to NEDs (non-executive directors)", Mr Flint said in a letter to…

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to  t.me/BizTimes

Banking & Finance

SUPPORT SOUTH-EAST ASIA'S LEADING FINANCIAL DAILY

Get the latest coverage and full access to all BT premium content.

SUBSCRIBE NOW

Browse corporate subscription here