On March 3, it will be 150 years since the Hongkong and Shanghai Banking Corporation opened for business. Normally such a milestone would prompt celebration: After all, the bank founded by colonial merchants now ranks among the world’s largest financial institutions. However, any merriment is likely to be mute. For HSBC, the birthday brings challenges as great as any it has ever faced.

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 chief executive Stuart Gulliver has apologised to MPs for “unacceptable” practices at the bank’s Swiss subsidiary which he said had caused “damage to trust and confidence” in the company.

HSBC reported a 17% fall in annual pre-tax profit and cut its profitability target, saying that allegations its Swiss business had helped customers to dodge taxes had brought shame on the bank.

HSBC Holdings Plc chief executive Stuart Gulliver offered “sincerest apologies” following fresh details of how the bank’s Swiss unit helped customers evade taxes.

Conversations at Davos typically focus on the thousands of wealthy and powerful folk who trek to the Alps every January for the World Economic Forum.

HSBC, Europe’s largest bank, yesterday warned that a growing body of international regulations was putting its staff under unprecedented pressure and discouraging them from taking risks.

Barclays chief executive Antony Jenkins and HSBC chairman Douglas Flint said the financial system’s safety has improved in the past five years, splitting delegates at the World Economic Forum in Davos, Switzerland.

London: HSBC Holdings executives faced investor anger yesterday over lacklustre returns and high executive pay, prompting chairman Douglas Flint to admit performance had been disappointing.

Banking giant HSBC was rebuked by shareholders today over plans that could see chief executive Stuart Gulliver earn up to £12.5m this year.

HSBC today reported profits more than doubled in 2010 to $19bn, with every region in the black for the first time since 2006.

Banking giant HSBC announced a new UK boss today as part of a management reshuffle by incoming chief executive Stuart Gulliver.

Markets on both sides of the Atlantic were slightly lower today as fresh concerns about the European banking system cooled the September rally.

HSBC chief executive Michael Geoghegan is to step down by the end of the year in a major boardroom shake-up, the banking giant said today.

Banking giant HSBC warned today that the turnaround of its US business may take until the end of 2009, as it unveiled a $17.2bn US (€11.3bn) hit from bad debt and loan provisions.

HSBC is facing calls from an activist shareholder for a group-wide shake-up of the banking giant, it emerged today.