Banker's Umbrella: A heartfelt defence of offshore banking

Banker's Umbrella: A heartfelt defence of offshore banking

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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...

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