Michael Murray: The serial scandals that have hit HSBC – the western world’s largest and once most prestigious global bank – have put the Celtic banking sector’s woes in the shade
HSBC, once the world’s most prestigious banking group is now the world’s most scandal-ridden bank. It continues to struggle and shrink and management haven’t a clue whether there are more scandals to come.
Since the onset of the financial crisis six years ago, the changes in the banking sector in the Anglo Saxon world have been profound. On the Celtic fringe – in Ireland and Scotland – many of the banks’ top management teams have departed. The banks themselves have been either substantially nationalised (AIB, Permanent TSB, and RBS), rescued via takeover (Bank of Scotland), scaled back (Bank of Ireland), or wound down ...
