HSBC former markets chief exits after misconduct claim

By BLOOMBERG

LONDON • HSBC Holdings plc’s head of global markets, Thibaut de Roux, left the bank after a junior female employee accused him of inappropriate conduct at a hotel bar in New York, people with knowledge of the matter said.

The London-based HSBC veteran allegedly behaved improperly with the employee, who flagged it to the lender’s human resources department in early summer, one of the people said. HSBC has reported the incident to the UK financial services regulator, the person said, declining to be identified because the details are private.

“An allegation was made against an individual,” HSBC said in a statement on Tuesday. “We dealt with it directly, robustly and appropriately.” De Roux didn’t return calls and texts to his UK mobile phone seeking comment.

The bank had announced in a memo to staff in mid-September that de Roux would be leaving the company and retiring from banking after 30 years in the industry.

Reported cases of alleged harassment have spread across business, including finance, building pressure on companies to step up their handling of misconduct claims.

Earlier this year, UBS Group AG said it will set up a confidential hotline for employees to flag sexual misconduct complaints, while Credit Suisse Group AG also put in place new disciplinary procedures to tackle incidents of sexual harassment.