HSBC , in the spotlight after details emerged about how its Swiss unit allegedly helped clients dodge taxes, isn't the troublemaker it is currently depicted as, the head of a rival private bank was quoted saying on Saturday. "HSBC has been described as the troublemaker in class, and it is not," Carlos Esteve, founder and CEO of Geneva-based Heritage, said in an interview with Swiss daily Le Temps. "HSBC was among the first to take steps to regularize its clients. Founded in 1986, Banque Heritage is part of a program brokered by the Swiss government for Swiss banks to come clean on their untaxed American clients, paying fines and cooperating with authorities in order to avoid prosecution.
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