The Swiss arm of the UK based bank HSBC is squirming with embarrassment after details emerged that it helped wealthy clients evade billions in tax.
HSBC says it is cooperating with the relevant authorities and has undergone a complete overhaul of its private banking business.
The squirming continues as the man in charge of HSBC at the time was Stephen Green.
Green, now a conservative peer and a government minister said “As a matter of principle I will not comment on the business of HSBC past or present.”
More than eight thousand British nationals held accounts at HSBC in Switzerland.
The British tax authorities received the leaked documents in 2010 and identified 1,100 people who had not paid any taxes.