922:
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1379:
1393:
149:
the chief executive served as the deputy. Green said he wanted to break that tradition, having a management cadre to look after the business, while the chairman would oversee the controls of the business through compliance and audit and the direction of the business. Geoghegan was paid an annual salary of £1,070,000 for his role as chief executive.
195: called a "brutal boardroom battle" relating partly to who would ascend to the chairmanship, on September 23, 2010, it was reported that Geoghegan would be replaced as HSBC chief executive by Stuart Gulliver. After Geoghegan had left HSBC, in 2012 there was a US senate investigation into charges of money laundering against
243: wrote that by renting from his own offshore trust, he would have been legally but unethically avoiding British property taxes. When asked on the matter, Geoghegan noted that at the time he had not been a UK resident or domiciled in the UK, and therefore would not have been dodging tax laws. He sold the home in 2014.
161:
his blunt style was unsuited to leading the board and representing HSBC with heads of government, and his appointment as chairman would also flout UK governance guidance that discouraged chief executives becoming chairman. Geoghegan had reportedly threatened to quit if he was passed over in favour of former
Goldman Sachs President
125:, he became responsible for all of HSBC's business throughout South America and chaired the group's regional executive committee. In October 2000 he became President of HSBC Investment Bank Brasil HSBC Seguros S.A. which resulted from the group's acquisition of CCF and the incorporation of certain activities of HSBC Brasil.
287:
would move into a position of strength "because Europe needs
Britain far more than Britain needs Europe," deriving from the assumption that Brussels would seek to retain unfettered access to the UK and because Britain imports more goods from Europe than are being sold there. However, Geoghegan urged
117:
He joined HSBC in 1973 as an international manager and, since then, spent twelve years in North and South
America, eight years in Asia, seven years in the Middle East and three years in Europe. Geoghegan arrived in Brazil in March 1997 to establish the group's operations in the country following the
160:
planning to depart HSBC to accept a government appointment as
Minister of Trade, Geoghegan was expected to become the next chairman. However, many shareholders instead pushed for an external candidate. Geoghegan's detractors noted that while he was effective at getting things done, they argued that
148:
as Group Chief
Executive of HSBC Holdings, as Green became Group Chairman. Geoghegan was named Deputy Chairman of HSBC Bank plc 26 May 2006. In that management shuffle, the group management board was created in 2006. Before that, the chairman essentially held the duties of a chief executive, while
232:
reported on his legal use of offshore firms to "manage his wealth". Geoghegan defended his use of the firms, noting that he was "an international investor" and that "since the early 60s the UK government have encouraged foreign investment in residential and commercial real estate."
176:; Flint was serving as HSBC's finance director (chief financial officer). Geoghegan remained with HSBC as an adviser until 30 June 2011. In an interview after he retired, Geoghegan stated that he was proud that Flint and Gulliver were chosen to lead HSBC.
814:
239: also reported that Geoghegan had previously owned a London townhouse through an offshore company, and in 2012 had informed Mossack Fonseca that he planned to rent the property himself after renovating it.
256:
Though generally in favor of reducing public spending, Geoghegan warned in 2010 not to cut spending to the extent that it is "cutting into the muscle" of the western world", which could lead to social conflict and strikes.
211:
over the settlement. Geoghegan was ultimately "excluded from the clawback arrangement because the bank's remuneration committee did not conclude that he had been personally responsible for the compliance failings."
152:
He shifted the chief executive's office of HSBC Group from London to Hong Kong on 28 January 2010, while the chairman remained in London. He became the chairman of The Hong Kong and
Shanghai Banking Corporation.
1436:
311:. The paper concluded that "a vote to leave would allow the UK to take back control over the City, would reduce the risk of future euro-contagion to the UK financial services sector and the wider
510:
352:
386:
436:
785:
473:
1461:
491:
632:
860:
755:
295:
has "given the impression that all the risks lie on the leave side", and that London has allowed the EU to impose an excessive amount of regulations on the
573:
291:
In May 2016, Geoghegan and Peter Udale, an independent risk consultant, wrote a paper supporting the UK leaving the
European Union. They argued that the
165:. HSBC's board of directors had reportedly been split over the succession planning, and investors were alarmed that this row would damage the company.
1466:
1456:
981:
315:, would return primacy over areas such as taxation to the UK and, over the long term, would make the City a more competitive, prosperous global
122:
1446:
450:
168:
On 23 September 2010, Geoghegan announced he would step down as chief executive of HSBC. He was succeeded as chief executive of HSBC by
88:
from 26 March 2006 to 31 December 2010. He joined HSBC in 1973 and had previously led the group's South
American and European operations.
360:
836:
200:
789:
1441:
404:
543:
911:
332:
1247:
1471:
1318:
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331:(CBE) in recognition of his contribution to British business interests in Brazil. Geoghegan is not a UK resident and has
118:
creation of Banco HSBC Bamerindus S.A. He was appointed a group general manager of HSBC Holdings plc in the same year.
328:
661:
1302:
1242:
1192:
763:
84:(born 4 October 1953) is an international banking business executive, who served as the chief executive (CEO) of
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600:
1297:
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1186:
996:
288:
Brexit campaigners to acknowledge the EU's laudable ambition to prevent another devastating
European war.
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1103:
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921:
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528:
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701:
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1138:
1133:
1128:
1093:
904:
296:
276:
133:
132:
on 1 January 2004, he gave up the position of UK CEO on 6 March 2006 which was in turn filled by
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97:
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1118:
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897:
730:"Former CEO of HSBC: Brexit would make London a 'prosperous global financial centre'"
221:
173:
511:"Douglas Flint to be HSBC chairman, Michael Geoghegan to leave in radical reshuffle"
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637:
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441:
191:
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304:
673:
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1397:
203:. Subsequently, the HSBC chairman stated the bank was considering a bonus
710:
606:
300:
204:
101:
492:"HSBC chief Michael Geoghegan 'to quit' after failing to get top job"
409:
272:
327:
Geoghegan is married with two sons. In June 2003 he was appointed a
472:
Wilson, Harry; Farrell, Sean; Aldrick, Philip (22 September 2010).
387:"HSBC ex-chief Michael Geoghegan relaxes as another marathon looms"
1032:
1364:
1022:
925:
544:"HSBC chief Mike Geoghegan ousted after brutal boardroom battle"
85:
70:
893:
308:
279:
in case of Brexit were exaggerated and that, upon leaving the
81:
633:"Former HSBC boss tried to avoid tax on £8m Kensington house"
474:"HSBC investors against Michael Geoghegan becoming chairman"
224:
one of the clients of
Panamanian corporate service provider
128:
Once Geoghegan was appointed chief executive and a director
844:
199:, with HSBC ultimately paying a record settlement to the
144:
HSBC announced on 28 November 2005 that he would succeed
1437:
British chief executives of financial services companies
831:
702:"The City of London can survive and thrive after Brexit"
662:"HSBC chief warns against savage cuts in public sector"
826:
437:"Michael Geoghegan: Executive Profile & Biography"
1347:
1311:
1220:
1179:
1152:
1046:
1005:
959:
934:
65:
57:
49:
27:
20:
700:
567:
565:
275:. He argued that claims of what could happen to
104:and educated in the United Kingdom and Ireland.
815:HSBC announcement of Sir John Bond's retirement
265:In April 2016, Geoghegan wrote an op-ed in the
756:"Michael Geoghegan on how HSBC beat the crash"
942:The Hongkong and Shanghai Banking Corporation
905:
8:
329:Commander of the Order of the British Empire
172:, while Green was succeeded as Chairman by
920:
912:
898:
890:
849:
17:
631:Watt, Holly; Pegg, David (7 April 2016).
602:HSBC Boss Gulliver In Line For £2m Bonus
1462:People educated at Claires Court School
626:
624:
622:
575:Former HSBC chiefs face bonus clawbacks
380:
378:
344:
754:Blackhurst, Chris (1 September 2009).
713:from the original on 11 December 2022.
724:
722:
720:
694:
692:
690:
123:HSBC Bank Brasil S.A.- Banco Multiplo
7:
1392:
699:Geoghegan, Michael (27 April 2016).
353:"HSBC Replaces An Irreplaceable CEO"
542:Treanor, Jill (23 September 2010),
509:Wilson, Harry (23 September 2010).
201:United States Department of Justice
385:Reece, Damian (20 December 2010).
307:powers such as the ability to set
252:Opposition to public spending cuts
14:
660:McDonald, Henry (6 August 2010).
121:In January 2000, as president of
1391:
1378:
1377:
950:
207:procedure against Geoghegan and
1467:People educated at Douai School
786:"Michael Francis Geoghegan CBE"
599:Kleinman, Mark (2 March 2013),
531:. Euromoney. 23 September 2010.
1457:People from Windsor, Berkshire
788:. Businessweek. Archived from
572:Wilson, Harry (30 July 2012),
140:Group CEO of HSBC: 2006 - 2010
96:Michael Geoghegan was born in
1:
1319:Charterhouse Capital Partners
1447:British corporate directors
1248:Crédit Commercial de France
1488:
1303:Williamsburgh Savings Bank
1243:Continental Bank of Canada
1193:Canara HSBC Life Insurance
1165:Hang Seng Bank (Hong Kong)
1373:
948:
878:
865:
857:
852:
405:"M. F. Geoghegan Profile"
113:Early career: 1973 - 2006
79:Michael Francis Geoghegan
32:Michael Francis Geoghegan
1442:English chief executives
1298:Samuel Montagu & Co.
1228:Bank of British Columbia
333:non-domiciled tax status
220:In April 2016 Geoghegan
92:Early life and education
1273:Imperial Bank of Persia
1180:Minority stakes and JVs
303:states, as well as key
1253:Greenwich Savings Bank
1187:Bank of Communications
529:"Great HSBC reshuffle"
299:, lost control to the
1221:Predecessor companies
1047:Principal local banks
868:Group Chief Executive
1472:British Eurosceptics
1233:Barclays Bank Canada
498:. 24 September 2010.
363:on 30 September 2010
271:arguing in favor of
156:With group chairman
1312:Former subsidiaries
1283:Marine Midland Bank
853:Business positions
840:article August 2008
515:The Daily Telegraph
478:The Daily Telegraph
391:The Daily Telegraph
108:Professional career
1278:Lloyds Bank Canada
1074:Continental Europe
960:Board of directors
827:HSBC Group website
417:on 30 October 2008
261:Comments on Brexit
1409:
1408:
1293:Republic New York
1199:HSBC Saudi Arabia
1171:M&S Bank (UK)
1160:First Direct (UK)
1028:HSBC Private Bank
1018:HSBC InvestDirect
977:Henri de Castries
888:
887:
879:Succeeded by
76:
75:
22:Michael Geoghegan
1479:
1400:
1395:
1394:
1386:
1381:
1380:
1334:HSBC Bank Panama
1329:HSBC Bank Canada
1324:HSBC Bank Brazil
1153:Subsidiary banks
954:
928:
924:
914:
907:
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891:
858:Preceded by
850:
802:
801:
799:
797:
792:on 10 April 2013
782:
776:
775:
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771:
766:on 17 April 2016
762:. Archived from
760:Management Today
751:
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742:
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734:Business Insider
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449:. Archived from
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413:. Archived from
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394:
382:
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359:. Archived from
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317:financial centre
297:financial sector
189:After what
163:John L. Thornton
45:
41:
39:
18:
1487:
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1452:English bankers
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1384:
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1343:
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1216:
1175:
1148:
1042:
1001:
955:
946:
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918:
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882:Stuart Gulliver
875:
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832:HSBC UK website
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811:
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769:
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707:Financial Times
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453:on 11 July 2012
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268:Financial Times
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247:Political views
226:Mossack Fonseca
216:Offshore trusts
209:Sandy Flockhart
182:
170:Stuart Gulliver
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180:Controversies
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174:Douglas Flint
171:
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158:Stephen Green
154:
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146:Stephen Green
139:
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130:HSBC Bank plc
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44:(age 70)
30:
26:
19:
16:
1396:
1382:
1288:Midland Bank
1119:Saudi Arabia
1023:HSBC Premier
876:2006 – 2011
866:
837:
794:. Retrieved
790:the original
780:
768:. Retrieved
764:the original
759:
749:
737:. Retrieved
733:
706:
677:. Retrieved
666:The Guardian
665:
655:
643:. Retrieved
638:The Guardian
636:
612:10 September
610:, retrieved
601:
594:
585:10 September
583:, retrieved
574:
553:, retrieved
549:The Guardian
547:
537:
523:
514:
504:
495:
486:
477:
467:
455:. Retrieved
451:the original
442:BusinessWeek
440:
431:
419:. Retrieved
415:the original
408:
399:
390:
365:. Retrieved
361:the original
356:
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326:
305:governmental
290:
266:
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241:The Guardian
240:
237:The Guardian
236:
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230:The Guardian
229:
222:was named as
219:
192:The Guardian
190:
188:
185:HSBC bonuses
167:
155:
151:
143:
127:
120:
116:
95:
78:
77:
69:Former CEO,
15:
1427:HSBC people
1422:1953 births
1360:Swiss Leaks
1263:Guyerzeller
1211:Techcombank
1104:Middle East
997:Mark Tucker
739:6 September
679:6 September
555:9 September
447:McGraw-Hill
197:HSBC Mexico
134:Dyfrig John
50:Nationality
1416:Categories
1238:Beneficial
1013:HSBC Expat
992:Noel Quinn
987:David Nish
872:HSBC Group
339:References
313:UK economy
58:Occupation
38:1953-10-04
1339:HSBC Rail
1268:Household
1124:Sri Lanka
1084:Hong Kong
1059:Australia
1054:Argentina
972:Laura Cha
674:0261-3077
517:. London.
480:. London.
393:. London.
1385:Category
1348:Scandals
1167:(63.04%)
1094:Malaysia
845:HSBC USA
796:19 March
711:Archived
641:. London
607:Sky News
496:NewsCore
457:8 August
421:8 August
367:11 March
309:taxation
301:Eurozone
277:The City
205:clawback
1399:Commons
1079:Germany
809:Sources
770:7 April
645:7 April
102:England
98:Windsor
53:British
1134:Turkey
1129:Taiwan
1114:Poland
1109:Mexico
1006:Brands
935:Origin
672:
410:Forbes
357:Forbes
283:, the
273:Brexit
228:, and
61:Banker
1213:(15%)
1207:(40%)
1201:(60%)
1195:(26%)
1189:(19%)
1099:Malta
1089:India
1069:Egypt
1033:PayMe
838:Times
1365:more
1205:SABB
1038:Proa
927:HSBC
798:2013
772:2016
741:2017
681:2017
670:ISSN
647:2016
614:2021
587:2021
557:2021
459:2009
423:2009
369:2013
86:HSBC
71:HSBC
28:Born
870:of
319:."
82:CBE
1418::
758:.
732:.
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709:.
705:.
689:^
668:.
664:.
635:.
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605:,
578:,
564:^
546:,
513:.
494:.
476:.
445:.
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407:.
389:.
377:^
355:.
335:.
285:UK
281:EU
136:.
100:,
40:)
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906:t
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800:.
774:.
743:.
683:.
649:.
461:.
425:.
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