HSBC bosses may be grilled over accounts

The Dáil’s spending watchdog will attempt to haul in the chief executive of HSBC over concerns the bank’s Swiss branch holds a large number of accounts owned by Irish tax dodgers.

HSBC bosses may be grilled over accounts

The public accounts committee confirmed it will shortly write to the bank’s senior officials after chairman Douglas Flint and chief executive Stuart Gulliver attended a similar meeting on Wednesday in Britain’s Houses of Parliament.

Speaking as the PAC examined a detailed 16-page document on the Irish aspect of the issue, Waterford TD John Deasy said it was time for the HSBC hierarchy to explain to the Dáil what was going on.

The Government backbencher said if senior bankers can attend a Westminster meeting on the matter, there was no reason why they should ignore similar calls from Ireland.

PAC chair and Fianna Fáil TD John McGuinness said it was his understanding Britain’s PAC remit was different to the Irish limits. However, he agreed to write to HSBC seeking a meeting.

A total of 88 accounts worth €44.8m held by Irish-based individuals and another 270 worth €6.25bn held by Irish-based corporations were found as part of a French tax dodging investigation into HSBC’s Swiss branch in 2010.

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