HSBC bosses apologise for 'unacceptable' practices

Thursday, 26 February 2015 - 13:12

The two top HSBC bosses have apologised for "unacceptable" practices at its Swiss private bank which helped clients to avoid tax.

Stuart Gulliver, group chief executive, said it had caused "damage to trust and confidence" in the company.

He and chairman Douglas Flint were answering questions from UK Members of Parliament of the Treasury Committee.

Flint said he felt shame and would "take his share of responsibility" for Swiss private bank failings.