Last checked at 
* HSBC remains in spotlight over Swiss tax allegations
* Bank to report 2014 results Monday 0815 GMT
* HSBC 2014 pre-tax profit seen down 7 pct at $21 bln
* Bosses to appear before UK lawmakers on Wednesday
By Steve Slater
LONDON, Feb 20 (Reuters) - When HSBC's marketingteam began drawing up plans for next month's 150th anniversarycelebrations, they weren't expecting top managers to spend therun-up to the event apologising to investors and lawmakers.
Yet allegations that HSBC's Swiss private bank helpedclients dodge taxes will cast a shadow over its anniversaryplans in the first week of March and over its annual resultsthis Monday. Its bosses will also be grilled on the issue bymembers of the UK parliament on Wednesday.
Stuart Gulliver, the chief executive of Europe's biggestbank, has admitted failings in its Swiss arm in the period up to2007 and apologised to investors and customers, but said thebusiness has been transformed and standards are now up toscratch.
Geneva's public prosecutor and Britain's financial watchdogare investigating the bank after details about how its Swissprivate bank allegedly helped wealthy clients dodge taxes wereleaked to the media and published last week.
The biggest concern for HSBC could be that U.S. authoritiesmay look at re-opening a 2012 deferred prosecution agreement.
That followed a $1.9 billion fine after it was found to haveallowed hundreds of millions of dollars in illicit drug money tomove through the U.S. financial system.
HSBC's shares have fallen 2 percent since the Swiss taxallegations were widely reported, lagging a 4 percent rise bythe European bank index in that period.
The tax allegations and HSBC's $618 million penalty lastyear when it was among six banks fined for alleged manipulationof foreign exchange markets will increase scrutiny on bonusespaid to executives and staff when these details are alsoreleased on Monday.
Gulliver will be paid about 7.4 million pounds ($11 million)for 2014, Sky News reported on Friday. It said that will includea 1.3 million pound bonus, down from 1.83 million for 2013. HSBCdeclined to comment.
The bank is expected to report a pre-tax profit of $21billion for 2014, down 7 percent from 2013, according to theaverage forecast from 16 analysts polled by the bank.
Revenues in its commercial bank are growing strongly but aslowdown in Asian growth, the impact of tougher regulations,subdued trading activity and geopolitical tensions will take atoll, analysts said.
Gulliver is trying to cut costs and simplify operationsacross the bank, which was founded in March 1865 in Hong Kongand Shanghai to finance the growing trade between Europe, Indiaand China.
But operating costs last year are predicted to rise 4percent to $40.3 billion, showing the challenge Gulliver facesin axing costs while trying to improve standards and add morecompliance staff.
Losses from bad loans are predicted to fall by $2.3 billionto $3.5 billion, but that will be offset by a 23 percent drop inrevenues in its global banking and markets division to $7.2billion, analysts reckon.
That would echo a slump in fixed income revenues shown bymost investment banks. ($1 = 0.6501 pounds) (Reporting by Steve Slater; Editing by Ruth Pitchford)
