HSBC has revealed it faces a hefty fine - estimated at $1bn by analysts - from US regulators for failing to have the right anti money laundering controls in place from 2004 until 2010.
Stuart Gulliver, chief executive, wrote a memo to staff saying he could not reassure regulators the bank did not facilitate the financing of terrorism and other criminal activities, the FT reported. ...
Acquired platform from AXA UK
Replaced by chief revenue officer Martin Stead
Nearly 18 years at the firm
Acquisition will add £12bn assets
Big plans for EMEA region