This is the best summary I could come up with:

A top executive at HSBC has apologized after reportedly calling the UK government “weak” for caving to US pressure over doing business with China, in another sign of the political tightrope the British bank has to walk.

According to Bloomberg, which cited several unidentfied sources, Cowper-Coles told participants of a private event in June that he felt Washington had pressured London into pulling back on business with China.

HSBC makes a large proportion of its profit in mainland China and Hong Kong, but is headquartered and listed in London, leaving it particularly vulnerable to increasing geopolitical tension between Beijing and the West.

Cowper-Coles, a former diplomat who has served as UK ambassador to Israel, Saudi Arabia and Afghanistan, among other postings, was also cited as saying Britain shouldn’t blindly follow the United States, but take care of its own interests.

According to HSBC and Cowper-Coles, the fiery comments were made under the Chatham House rule — a longstanding practice named after a British think tank that means those involved can use the information discussed but not specify the identity or affiliation of the speaker.

In 2020, HSBC’s top executive in Asia publicly declared support for a controversial national security law that Beijing introduced in Hong Kong, inviting a fierce backlash from Western government officials and investors.

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