‘Gus thinks we’re buying 6.5bn’ – Johnson trial

Mark Johnson’s trial reveals how HSBC faced significant difficulties with the Cairn order

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Mark Johnson: “At this point, I’m scrambling in my head asking what does this mean”
Brendan McDermid/Reuters/PA Images

One day before Cairn Energy placed its multi-billion dollar currency order with HSBC, at least one other large market-maker began to hunt for information about the order, alerting HSBC to the possibility that it could face significant headwinds when working the customer’s order.

The defence in the fraud case against ex-HSBC senior executive Mark Johnson gave an account on October 12 about how a news article in the Financial Times sent a Deutsche Bank employee on the hunt to find out whether or

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