July 23 (Bloomberg) -- Bankers have made some dramatic
moves in recent years, but even the most cynical observers were
stunned last week when David Bagley, HSBC Holdings Plc’s top
compliance officer, resigned during a U.S. Senate hearing.
“As I have thought about the structural transformation of
the bank’s compliance function,” he told the senators, “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.”
