9/27/2010

Breaking up the U.K.'s banks could create more risk, HSBC CEO Michael Geoghegan said in a speech before Britain's Independent Commission on Banking was set to assess the structure of the industry and whether banks were too powerful. A bank breakup would lead to less diversification, which could drive systemic risk, explained Geoghegan, who is set to step down from his post at the end of this year.

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