HSBC’s head of public affairs has apologised after reportedly saying that Britain had been “weak” for going along with U.S. demands to curtail business dealings with China.
Sherard Cowper-Coles, a former diplomat, told a closed-door event in June that Britain would often bow to the demands of Washington and should look after its own interests, according to a Bloomberg report citing several people familiar with the matter on Monday.
The reported comments come at a time of simmering geopolitical tensions between the West and China.
HSBC, which makes the bulk of its profit in Asia, has faced criticism from Western lawmakers over its dealings with China.
HSBC said in a statement that Cowper-Coles – who also chairs the China-Britain Business Council and is a former British ambassador – had been at a private roundtable discussion and “shared his personal views”.
“I was speaking at a private event under Chatham House Rule and my personal comments don’t reflect the views of HSBC or the China-Britain Business Council. I apologise for any offence caused,” Cowper-Coles said in a statement provided by HSBC on Monday.
Britain’s Foreign Office did not immediately respond to a request for comment.
The Chatham House Rule, named after a London-based foreign affairs think tank, means participants can use information received but cannot identify the speaker nor their affiliation, according to the Chatham House website.
HSBC was accused by two influential U.S. and British lawmakers in June of contributing to the oppression of people in Hong Kong by thwarting their attempts to access pension funds in order to emigrate.
The London-based bank was also chided in 2020 by then U.S. secretary of state Mike Pompeo for “corporate kowtows” to Beijing, citing an executive’s signing of a petition in support of a national security law in Hong Kong.
Source: Reuters
