HSBC Holdings plc : HSBC'S group compliance head plans to step down

The head of group compliance for HSBC Holdings Plc said he plans to step down as the bank copes with a money-laundering scandal.

David Bagley said before a U.S. Senate panel on Tuesday that he had recommended to HSBC senior management that it was the "appropriate time" for "someone new to serve as the head of group compliance."

(Reporting by Aruna Viswanatha; Editing by Gerald E. McCormick)

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