HSBC Exec Announces Resignation During Senate Hearing

The head of compliance for HSBC told a U.S. Senate committee that he will be stepping down from his job during a hearing over whether his bank, one of the world's largest, violated anti-money-laundering rules by allowing billions from drug cartels. "I recommended to the group that now is the appropriate time for me and for the bank for someone new to serve as the head of group compliance," said Bagley, the head of compliance since 2002. "I have agreed to work with the bank's senior management...Full Story
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