British bankers disagree over ring-fencing

Andrew Tyrie

Representatives of the four biggest banking groups in the UK on Wednesday disagreed over proposals for a ring fence to separate investment from retail operations.

Giving evidence at the Treasury Select Committee meeting, Douglas Flint, the group chairman at HSBC, said he could "see, given what happened [during the financial crisis], why a ring fence would be looked at," and that he did think one was required.

Stephen Hester, the chief executive of the Royal Bank of Scotland was less direct. He s

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