HSBC Chief Responds to Reports of $7.7 Million Swiss Bank Account

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Stuart Gulliver, the chief executive of HSBC responded today to news reports over the weekend that he kept almost $7.7 million in a Swiss bank account through a Panamanian company until 2003, defending the account as legal and saying that he paid all taxes on the money that he put in it, the New York Times reports. Details of the bank account, reported by the Guardian, came from leaked files stolen by an HSBC whistle-blower and came to light at the end of a week of new revelations of how HSBC reportedly helped clients evade taxes before 2007.

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