Talk about bad timing. On Wednesday, in a piece headlined ‘The bankers’ banker who put safety first and came out ahead”, the London Evening Standard’s City editor, Chris Blackhurst, profiled HSBC chief executive Mike Geoghegan.
‘Geoghegan, 55, and HSBC have had a good war,’he told Standard readers. ‘While the other banks have twisted and turned and, in the end, gone cap in hand to the Government, HSBC, the country’s largest bank and Europe’s biggest by market value, has remained aloof, seemingly untroubled by the crisis.”
Later in his article, Blackhurst concludes that HSBC ‘has weathered the storm”.
Two days later, HSBC’s shares fell 13.5 per cent to a five-year low of 696p.
Poor old Geoghegan, ‘untroubled by the crisis’until struck by the curse of Blackhurst.