article_snippet: Public Accounts Committee chairman Margaret Hodge said Mrs Fairhead, who is also a director of HSBC, had been either ‘incredibly naive or totally incompetent’ over the tax evasion scandal at the bank’s Swiss division.
article_snippet: The 53-year-old was criticised by MPs on the powerful Public Accounts Committee as MPs on the powerful Public Accounts Committee grilled Fairhead over allegations that bank helped wealthy clients to hide billions of pounds from the taxman.
article_snippet: Fairhead claimed repeatedly that Fairhead had not been aware of any wrongdoing and that Fairhead had relied on various committees and structures to flag up problems.
article_snippet: In addition to the £110,000-a-year position, on which Fairhead spends three days a week, Fairhead is a non-executive director of Pepsi and HSBC.
article_snippet: Last year Fairhead received more than £513,000 in fees and benefits for Fairhead work at the troubled bank, including a £334,000 fee as non-executive chairman of HSBC North America Holdings.
article_snippet: Yesterday, MPs marvelled at the fact that Fairhead is paid so much, but did not do more to find out about HSBC North America Holdings
article_snippet: Fairhead was one of a panel of HSBC bosses hauled in front of the committee who spent the session trying to blame others for the tax evasion scandal at HSBC division in Switzerland.
highlights_snippet: Fairhead says Fairhead had been 'unyielding' about any wrongdoing at bank .