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HSBC chief set to move into politics

Stephen Green, the chairman of HSBC, will step down from his post with the banking giant later this year and take up the role of Trade Minister with the UK government. This will bring to a close a 28 year career in the financial industry and allow the UK government to bring on board one of the best respected names in the UK financial arena.

It is believed that a number of other candidates may well have turned down direct or indirect approaches from the UK government before Stephen Green eventually decided to accept. However, in some instances this is a little bizarre because the UK government has been highly critical of companies such as HSBC, with Stephen Green at the helm, yet appears happy to take on board the experienced banker when it suits the government?

There is no doubt that Stephen Green brings with him an experience which few others in the UK can match and he will be an excellent back up for business secretary Vince Cable and foreign secretary William Hague. Whether Stephen Green will act as a link between the government and the UK banking arena remains to be seen.

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