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HSBC departures highlight concern by UK directors
The departure of two directors from HSBC in the UK could be part of a trend in which many other directors stand down, according to lawyers and other advisers.
JuliusKielaitis
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Directors are becoming concerned at a UK regulatory regime which appears harder than others in the UK or Europe. An anonymous lawyer is quoted in the Financial Times as saying: ‘We are seeing existing non-executives who are looking at their position and saying ‘Am I up for this?’. Another unnamed lawyer said: ‘They are worried about personal liability and where the regulator may want to take things in the future. You don’t want the good people being scared away.’ Source: Financial Times
