Josh Leeson at 16:48, 11 March 2015

2015-03-11T16:48:49Z

Josh Leeson at 16:36, 11 March 2015

2015-03-11T16:36:07Z

Josh Leeson: Created page with "'''Stuart Gulliver''' is the group chief executive of HSBC Holdings plc and chairman of the Hongkong and Shanghai Banking Corporation Limited. ==HSBC== Gulliver..."

2015-02-23T15:26:10Z

Created page with "'''Stuart Gulliver''' is the group chief executive of HSBC Holdings plc and chairman of the Hongkong and Shanghai Banking Corporation Limited. ==HSBC== Gulliver..."

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'''Stuart Gulliver''' is the group chief executive of [[HSBC| HSBC Holdings]] plc and chairman of the [[Hongkong and Shanghai Banking Corporation]] Limited.

==HSBC==
Gulliver joined [[HSBC]] straight out of university in 1980, joining the bank's training programme. Originally his plan was to work there for a few years to save up some money and then train as a lawyer. After starting out in the dealing rooms of Sharjah in the Gulf and Hong Kong, Gulliver found the work suited him and he enjoyed the 'buzz' of it all. After standing out as a brilliant trader, he began to rise through the markets side of the bank.<ref name="FT"> Henny Sender [http://www.ft.com/cms/s/2/9f34a2bc-4064-11e0-9140-00144feabdc0.html#axzz3SZuUiPO4 Breakfast with the FT: Stuart Gulliver] ''Financial Times'', 25 February 2011, accessed 23 February 2015 </ref>

Gulliver's stock rose even further in 1997 and 1998 during the Asian financial crisis. Whilst some banks, hedge fund managers and other investors decided that the currencies of many Asian countries were overvalued and formed a group betting that the currencies would lose value, Gulliver - in charge of [[HSBC]]'s Asian markets business, declined to join the group and instead worked with the central banks to build stability. In doing this he declined making the bank a short-term profit in order to not further deteriorate the economic position of the countries.<ref name="FT"/>

Gulliver has held roles at the bank as chairman of Europe, Middle East and Global Business of [[HSBC| HSBC Holdings]] plc, chairman of HSBC France, deputy chairman of [[Trinkaus & Burkhardt AG]] and on the boards of [[HSBC]] Bank plc, [[HSBC]] Bank Middle East Limited, [[HSBC]] USA Inc and [[HSBC]] Bank USA, N.A.<ref name="HSBC"> HSBC [http://www.hsbc.com/about-hsbc/leadership/stuart-gulliver Stuart Gulliver], accessed 23 February 2015 </ref>

He has currently been a group general manager since 2000, on the group management board since 2004, an executive director of the [[Hongkong and Shanghai Banking Corporation]] Limited since 2006 and an executive director of [[HSBC| HSBC Holdings plc]] since 2008. He was appointed Group Chief Executive of [[HSBC| HSBC Holdings]] plc in January 2011, replacing [[Stephen Green]] who was being appointed Minister of State for Trade and Investment by [[David Cameron]].<ref name="HSBC"/>

==Tax avoidance==
In February 2015 [[HSBC]] were embroiled in a tax avoidance scandal, where it was revealed the Swiss subsidiary of the bank were helping clients, including some of the richest men and women in Britain, to avoid tax laws. In the immediate aftermath of the revelations, Gulliver apologised on behalf of the bank and said the Swiss bank had had a 'complete overhaul'.<ref> [http://www.theguardian.com/news/2015/feb/15/hsbc-boss-stuart-gulliver-apologies-tax-avoidance-row-swiss HSBC boss Stuart Gulliver apologises as tax avoidance row grows] ''Guardian'', 15 February 2015, accessed 23 February 2015 </ref>

However, it has since been claimed that Gulliver has used his non-domiciled status (resides in Hong Kong) to hold £5million of his personal fortune in a Swiss account with the bank. He was named as the beneficial owner of an account in the name of [[Worcester Equities]] Inc, an anonymous company registered in Panama, that until 2003 Gulliver's [[HSBC]] bonuses were paid in to. Until 2007 he also held a second account in the name of [[Worcester Foundation]].

According to the ''Guardian'', lawyers for Gulliver have said that Hong Kong tax has been paid on the income and explained that he 'followed this procedure because he wanted his taxed bonus earnings to remain private from his then colleagues in Hong Kong, which they would not have done if he had kept them in an HSBC Hong Kong account'.

The paper also asked why he used a Panamanian company to hold the funds, however his lawyers declined to answer. They added that his Swiss accounts have 'for a number of years' been voluntarily declared to UK tac authorities.<ref> James Ball, Juliette Garside, David Pegg and Harry Davies [http://www.theguardian.com/business/2015/feb/22/swiss-account-secret-of-hsbc-chief-stuart-gulliver-revealed Revealed: Swiss account secret of HSBC chief Stuart Gulliver] ''Guardian'', 23 February 2015, accessed 23 February 2015 </ref>

==Education==
*[[University of Oxford]]<ref name="HSBC"/>

==Notes==
<references/>

[[Category:Bankers|Gulliver, Stuart]]

← Older revision		Revision as of 16:48, 11 March 2015
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	'''Stuart Gulliver''' is the group chief executive of [[HSBC\| HSBC Holdings]] plc and chairman of the [[Hongkong and Shanghai Banking Corporation]] Limited.		'''Stuart Gulliver''' is the group chief executive of [[HSBC\| HSBC Holdings]] plc and chairman of the [[Hongkong and Shanghai Banking Corporation]] Limited.

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−	[[Category:Bankers\|Gulliver, Stuart]]	+	[[Category:Bankers\|Gulliver, Stuart]][[Category:Financial sector lobbying\|Gulliver, Stuart]][[Category:Tax avoidance\|Gulliver, Stuart]]

Stuart Gulliver - Revision history

Josh Leeson at 16:48, 11 March 2015

Josh Leeson at 16:36, 11 March 2015

Josh Leeson: Created page with "'''Stuart Gulliver''' is the group chief executive of HSBC Holdings plc and chairman of the Hongkong and Shanghai Banking Corporation Limited. ==HSBC== Gulliver..."