A group claiming to comprise senior members of HSBC's investment bank has launched a blistering attack on the division's boss Robin Phillips, accusing him of overseeing a period of “persistent failure” and demanding his immediate removal.
The unnamed bankers purport to have sent a letter entitled Global Banking & Markets: Rewards for Persistent Failure — seen by Financial News — to HSBC chief executive John Flint, chairman Mark Tucker and the board on August 25, voicing their concerns and what they call their “embarrassment” at how their division is being run.
