Geoghegan arrived in Brazil in March 1997 to establish the group's operations in the country following the creation of Banco HSBC Bamerindus S.A.
Once Geoghegan was appointed chief executive and a director HSBC Bank plc on 1 January 2004, he gave up the position of UK CEO on 6 March 2006 which was in turn filled by Dyfrig John.
[2] After what The Guardian called a "brutal boardroom battle" relating partly to who would ascend to the chairmanship, on September 23, 2010, it was reported that Geoghegan would be replaced as HSBC chief executive by Stuart Gulliver.
[10] Geoghegan was ultimately "excluded from the clawback arrangement because the bank's remuneration committee did not conclude that he had been personally responsible for the compliance failings.
"[11] In April 2016 Geoghegan was named as one of the clients of Panamanian corporate service provider Mossack Fonseca, and The Guardian reported on his legal use of offshore firms to "manage his wealth".
Geoghegan defended his use of the firms, noting that he was "an international investor" and that "since the early 60s the UK government have encouraged foreign investment in residential and commercial real estate.
"[12] The Guardian also reported that Geoghegan had previously owned a London townhouse through an offshore company, and in 2012 had informed Mossack Fonseca that he planned to rent the property himself after renovating it.
[14] In May 2016, Geoghegan and Peter Udale, an independent risk consultant, wrote a paper supporting the UK leaving the European Union.
[15] They argued that the Bank of England has "given the impression that all the risks lie on the leave side", and that London has allowed the EU to impose an excessive amount of regulations on the financial sector, lost control to the Eurozone states, as well as key governmental powers such as the ability to set taxation.