Monday June 1, 2020

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.

1st March, 2015
HSBC: hit by serial scandalsBloomberg

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 (Anglo Irish Bank).


Subscribe from just €1 for the first month!

Exclusive offers:

All Digital Access + eReader



Unlimited Access for 1 Month

Then €19.99 a month after the offer period.

Get basic
*New subscribers only
You can cancel any time.



€149 For the 1st Year

Unlimited Access for 1 Year

You can cancel any time.




90 Day Pass

You can cancel any time.

Team Pass

Get a Business Account for you and your team

Related Stories

The way we did business a few months ago may never return – so the opportunity is to make changes that will both aid recovery and set us up well for our new futures

Tom Maguire | 4 weeks ago

What’s coming up today and what you might have missed

Hannah O’Brien | 5 months ago