Banker's Umbrella: A heartfelt defence of offshore banking

Banker's Umbrella: A heartfelt defence of offshore banking

clock

In his fourth column for Professional Adviser, the quasi-mysterious Banker's Umbrella explores revelations HSBC's Swiss arm has been helping patrons avoid millions in tax, and mounts a brave defence of offshore banking...

It's been a few weeks of on going banker bashing with us nasty offshore private bankers getting aggro, those from HSBC taking the brunt of it. The focus has been solely on the tax avoiding antics of clients of private banks in picturesque countries in Europe where they tend to speak many languages. Now, I'm fully aware that us offshore bankers have a rather tough job of garnering even a quantum of sympathy, but I'm still going to have a bit of a stab at it and state for the record that I don't think that all this vitriol towards my private banking brethren is entirely fair. Offshor...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Economics / Markets

'Discussion-worthy stuff': Chinese assets under pressure

'Discussion-worthy stuff': Chinese assets under pressure

China has an 18% share of global GDP and only a 3% MSCI ACWI weighting

Chris Justham
clock 02 April 2024 • 2 min read
Why investors 'can't outrun' slow-moving demographics

Why investors 'can't outrun' slow-moving demographics

'Demographic change is a key megatrend'

Darius McDermott
clock 07 March 2024 • 5 min read
Spring Budget 24: Ten key takeaways from Jeremy Hunt's speech

Spring Budget 24: Ten key takeaways from Jeremy Hunt's speech

British ISA, Office for Budget Responsibility, tax cuts

Valeria Martinez
clock 07 March 2024 • 4 min read