Arrested HSBC Exec Was Once Head Of Compliance at his Own Hedge Fund

(The Telegraph) The HSBC executive arrested last week in an American fraud probe was once responsible for regulatory compliance at a hedge fund he ran before joining the bank.

Mark Johnson, global head of foreign exchange cash trading at HSBC, was charged with conspiring to commit wire fraud on Wednesday after the US authorities stopped him at JFK Airport. Before joining HSBC in 2010, he spent six years launching and running a loss-making hedge fund. According to Financial Conduct Authority records, Mr Johnson was responsible for overseeing compliance, money laundering reporting and handing out other duties at Johnson Stewart Partners, which he ran with two partners and around a dozen other staff.

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