HSBC appointment 'may attract FSA attention'

26 May 2010 at 16:37

HSBC appointment 'may attract FSA attention' The rumoured appointment of a new HSBC chairman is likely to attract the attention of the Financial Services Authority (FSA), it has been claimed.

Mark Kleinman, writing for Sky News, said that many people are suggesting that Stephen Green, the bank's current chairman, would be replaced by John Thornton later this year.

In response to this rumour, chief executive Michael Geoghegan claimed there was "nothing" in the matter, but Mr Kleinman suggests that there may be no smoke without fire – which is likely to attract the FSA's attention.

"When HSBC announced last autumn that Geoghegan would relocate to Hong Kong, it did so only after assuring the FSA that the counter-balancing role of executive chairman would continue to be rooted firmly in London," he pointed out.

It comes after the FSA recently stepped in to prevent former Morgan Stanley banker John Hyman becoming new co-head of global finance at Japanese firm Nomura's London arm. ADNFCR-3006-ID-19801952-ADNFCR

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