Difference between revisions of "Douglas Flint"
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[[File:Douglas Flint.png|right|thumb|250px|Douglas Flint at the St Gallen symposium on 'Banking in the age of financial repression and public hostility', May 2013]] | [[File:Douglas Flint.png|right|thumb|250px|Douglas Flint at the St Gallen symposium on 'Banking in the age of financial repression and public hostility', May 2013]] | ||
| − | '''Douglas Flint''' CBE | + | '''Douglas Flint''' CBE was the group chairman of [[HSBC|HSBC Holdings]] plc. He is a board member of the [[Centre for Policy Studies]]. |
==Career== | ==Career== | ||
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==2015 Tax avoidance scandal== | ==2015 Tax avoidance scandal== | ||
| − | In February 2015 [[HSBC]] | + | In February 2015 [[HSBC]] was 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. <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 11 March 2015 </ref> |
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A statement released by Flint said: | A statement released by Flint said: | ||
:'We deeply regret and apologise for the conduct and compliance failures highlighted which were in contravention to our own policies as well as our expectations of us.'<ref> Robert Jenkins [http://www.ft.com/cms/s/0/a3d37ec0-c71e-11e4-8e1f-00144feab7de.html#axzz3U56dmkyR How HSBC chairman Flint can restore accountability at his bank] ''Financial Times'', 10 March 2015, accessed 11 March 2015 </ref> | :'We deeply regret and apologise for the conduct and compliance failures highlighted which were in contravention to our own policies as well as our expectations of us.'<ref> Robert Jenkins [http://www.ft.com/cms/s/0/a3d37ec0-c71e-11e4-8e1f-00144feab7de.html#axzz3U56dmkyR How HSBC chairman Flint can restore accountability at his bank] ''Financial Times'', 10 March 2015, accessed 11 March 2015 </ref> | ||
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HSBC bosses have been interviewed by MPs on the [[Public Accounts Committee]]. During these interviews, Flint said 'The individuals most accountable for the data theft and the behaviour that was unacceptable to our standards, was the management in Switzerland. Most culpable were the relationship managers [in the Swiss private bank].' This appeared to put the blame on former HSBC staff [[Chris Meares]] and [[Clive Bannister]] - two former heads of the bank's private banking division.<ref> BBC News [http://www.bbc.co.uk/news/business-31627068 HSBC bosses apologise for 'unacceptable' practices], 25 February 2015, accessed 11 March 2015 </ref><ref> BBC News [http://www.bbc.co.uk/news/business-31793381 HSBC bosses to face new grilling from MPs], 9 March 2015, accessed 11 March 2015 </ref> | HSBC bosses have been interviewed by MPs on the [[Public Accounts Committee]]. During these interviews, Flint said 'The individuals most accountable for the data theft and the behaviour that was unacceptable to our standards, was the management in Switzerland. Most culpable were the relationship managers [in the Swiss private bank].' This appeared to put the blame on former HSBC staff [[Chris Meares]] and [[Clive Bannister]] - two former heads of the bank's private banking division.<ref> BBC News [http://www.bbc.co.uk/news/business-31627068 HSBC bosses apologise for 'unacceptable' practices], 25 February 2015, accessed 11 March 2015 </ref><ref> BBC News [http://www.bbc.co.uk/news/business-31793381 HSBC bosses to face new grilling from MPs], 9 March 2015, accessed 11 March 2015 </ref> | ||
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<references/> | <references/> | ||
| − | [[Category:Financial sector lobbying|Flint, Douglas]][[Category:Harvard alumni|Flint, Douglas]] | + | [[Category:Financial sector lobbying|Flint, Douglas]][[Category:Harvard alumni|Flint, Douglas]][[Category:Bankers|Flint, Douglas]][[Category:Tax avoidance|Flint, Douglas]] |
Latest revision as of 04:59, 15 January 2018
Douglas Flint CBE was the group chairman of HSBC Holdings plc. He is a board member of the Centre for Policy Studies.
Career
Flint began his career with Peat Marwick Mitchell & Co (now KPMG) where he trained as a chartered accountant - he was appointed a partner in 1988.
He joined the HSBC Group in 1995 as group finance director, before being promoted in February 2010 to chief financial officer and executive director, rick and regulation. He was appointed group chairman of HSBC Holdings plc on 3 December 2010.
Flint was appointed chairman of the Institute of International Finance in July 2012 and he is also a member of the Mayor of Beijing's International Business Leaders' advisory council; mayor of Shanghai's International Business Leaders' advisory council; a member of the international advisory board of the China Europe International Business School; Shanghai, director of the Hong Kong Association - an independent external member of the UK government's Financial Services Trade and Investment Board; a British business ambassador and a director of the Peterson Institute for International Economics in December 2014.[1]
2015 Tax avoidance scandal
In February 2015 HSBC was 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. [2]
A statement released by Flint said:
- 'We deeply regret and apologise for the conduct and compliance failures highlighted which were in contravention to our own policies as well as our expectations of us.'[3]
HSBC bosses have been interviewed by MPs on the Public Accounts Committee. During these interviews, Flint said 'The individuals most accountable for the data theft and the behaviour that was unacceptable to our standards, was the management in Switzerland. Most culpable were the relationship managers [in the Swiss private bank].' This appeared to put the blame on former HSBC staff Chris Meares and Clive Bannister - two former heads of the bank's private banking division.[4][5]
University
- B.Acc (Hons) degree, Glasgow University
- PMD course, Harvard Business School, 1983[1]
Notes
- ↑ 1.0 1.1 Douglas Flint, accessed 11 March 2015
- ↑ HSBC boss Stuart Gulliver apologises as tax avoidance row grows Guardian, 15 February 2015, accessed 11 March 2015
- ↑ Robert Jenkins How HSBC chairman Flint can restore accountability at his bank Financial Times, 10 March 2015, accessed 11 March 2015
- ↑ BBC News HSBC bosses apologise for 'unacceptable' practices, 25 February 2015, accessed 11 March 2015
- ↑ BBC News HSBC bosses to face new grilling from MPs, 9 March 2015, accessed 11 March 2015
