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

Inflation falls faster than predicted ahead of BoE interest rate vote

Inflation falls faster than predicted ahead of BoE interest rate vote

3.2% in November

Michael Nelson
clock 17 December 2025 • 2 min read
FCA's Rathi addresses Autumn Budget market abuse concerns

FCA's Rathi addresses Autumn Budget market abuse concerns

Pens open letter to Treasury Committee

Isabel Baxter
clock 04 December 2025 • 2 min read
More tax, less shelter: A slow-burn Budget for savers and investors

More tax, less shelter: A slow-burn Budget for savers and investors

'The Budget documents make for sobering reading for those trying to build up their wealth'

Laith Khalaf
clock 04 December 2025 • 3 min read