A Reuters article dated 15 February said “Given the increasing mistrust for financial firms, after heavy losses, respect for financial firms largely slipped. Bank of America was ranked No. 98, down from 82 a year ago, and UK-based HSBC Holdings PLC fell to No. 63 from 48th place last year.” Yet here is an article from Malta that says something totally different:
“HSBC was also recently named the world’s most ethical company out of 541 multinationals in 18 sectors by Geneva-based research consultancy Covalence. “I welcome the Brand Finance report’s findings that HSBC is the only AAA+ ranked brand in financial services and is the most valuable financial services brand in the world. In these difficult times, values are more important than ever to our customers and they want a bank that they can trust,” said Alex Hungate, HSBC Group Managing Director, Personal Financial Services and Marketing.
One visit to our complaints blog, which includes complaints from the United States, Canada, India, and the UK, shows a different story. If, after all that, this is the standard for the world’s most ethical company then the world deserves the financial crisis we are presently experiencing. If journalists look a little less they might see a whole lot more.
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