London: A former boss of HSBC, Stephen Green, has stepped down from his position with a financial services lobby group after allegations that the bank helped people dodge taxes.
Mr Green, who is under increasing pressure over the HSBC revelations, quit as chairman of TheCityUK's advisory council, an unpaid position, the organisation said on Saturday.
"This is entirely his own decision," said Gerry Grimstone, chairman of the TheCityUK's board, describing Mr Green as a man of great personal integrity.
"He doesn't want to damage the effectiveness of TheCityUK in promoting good governance and doing the right thing so has decided to step aside from chairing our Advisory Council."
Lawmakers in Britain's parliament are considering whether to quiz Mr Green over the allegations and the Bank of England has said it might look into the case too.
Mr Green was HSBC chairman from 2006 until 2010. He has so far declined to comment on the allegations.
Europe's largest bank has admitted failings in compliance and controls in its Swiss private bank after media allegations that it may have enabled clients to avoid paying tax.
The bank's chief executive Stuart Gulliver said on Friday that HSBC had sometimes failed to live up to the standards expected of it.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
