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. ...
We must follow this meeting of the central bankers closely, argues Fabrizio Quirighetti, CIO and co-head of multi-asset at SYZ Asset Management.
Spent seven years at Aviva Investors
Second profit warning since June
Moved to Switzerland in 2010
Joins Vanguard, JPMAM, Hermes in shouldering costs