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HSBC

March 2015

Lord Stephen GreenProminent churchman Lord Green has faced calls to step down after it was revealed that mass tax evasion had been taking place at banking giant HSBC.

In February, Downing Street was forced to defend Prime Minister David Cameron’s appointment of the former HSBC chairman as trade minister in 2011.

According to a report in the Guardian, Mr Cameron’s spokesman said Stephen Green, who served as trade minister from January 2011 to December 2013, had been an excellent appointment and that the Prime Minister had never discussed with him the allegations against HSBC.

Mr Green has been accused by Labour’s Margaret Hodge of either being complicit or ‘asleep at the wheel’; he has not offered any comment in response to the allegations.

Lord Green, who is also an ordained minister in the Church of England, has spoken out in the past strongly against bad practice and unethical behaviour in financial services.

In 2012 HSBC paid a record £1.2 billion fine to US authorities over the allegations it had laundered drug money through its banking organisation.

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