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HSBC Chief Leaves Lawmakers Puzzled by ‘Quite Strange’ Pay Setup

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HSBC Execs Face Lawmakers Over Tax Evasion Claims

Chief Executive Officer Stuart Gulliver opened his testimony on alleged tax dodging at HSBC Holdings Plc’s Swiss private-banking operations to the U.K. Parliament’s Treasury Committee in the traditional manner, with an apology.

“Just to be clear, what are you apologizing for?” Committee Chairman Andrew Tyrie asked. “Who is doing the apologizing here?”