HSBC plan to sell Sir Philip Green retail empire
The boss of HSBC UK faces fresh embarrassment as new leaked emails reveal that a small group of his senior executives had detailed discussions about helping Sir Philip Green sell all or part of his high street empire.
Ian Stuart has denied any HSBC involvement in Green’s plans to dispose of his retail interests, which include Topshop. He said in a statement last month: “There has been NO dialogue with myself or (to my knowledge — I have checked) HSBC in respect of any sale of any part of the Arcadia Group.”
The boss of HSBC UK faces fresh embarrassment as new leaked emails reveal that a small group of his senior executives had detailed discussions about helping Sir Philip Green sell all or part of his high street empire.
Ian Stuart has denied any HSBC involvement in Green’s plans to dispose of his retail interests, which include Topshop. He said in a statement last month: “There has been NO dialogue with myself or (to my knowledge — I have checked) HSBC in respect of any sale of any part of the Arcadia Group.”
The Sunday Times has seen emails showing that several senior HSBC bankers arranged to meet Green in March 2016, less than a month after the billionaire had dinner with Stuart, who was then head of commercial banking in Europe, and David Barraclough, an HSBC managing director. During the dinner, Green indicated a desire to sell off his empire, according to a secret memo written by Barraclough.
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