HSBC to keep headquarters in London

AFP, LONDON:  Europe’s largest bank HSBC said Sunday it would remain headquartered in Britain, rejecting a move to Hong Kong despite concerns about increased regulation in the UK and a possible split from the EU.
The Hongkong and Shanghai Banking Corpora-tion said London’s many advantages meant it was “ideally positioned” to provide a home base. It made no reference to growing fears in Hong Kong that the city’s freedoms are being eroded by an increasingly influential China, a trend observers say could damage its status as a freewheeling finance hub.
The bank began its review of where to put its headquarters in April last year, two weeks before a British general election, amid growing calls for a crackdown on a banking sector seen by many voters as feckless.
But after almost a year, during which it reportedly sought advice from former US Secretary of State Henry Kissinger among others, the board unanimously decided to stay put.
“London is one of the world’s leading international financial centres and home to a large pool of highly skilled, international talent,” the bank said in a statement.

HSBC to keep headquarters in London

AFP, LONDON: Europes largest bank HSBC said Sunday it would remain headquartered in Britain, rejecting a move to Hong Kong despite concerns about increased regulation in the UK and a possible split from the EU. The Hongkong and Shanghai Banking Corpora-tion said Londons many advantages meant it was ideally positioned to provide a home base. It made no reference to growing fears in Hong Kong that the citys freedoms are being eroded by an increasingly influential China, a trend observers say could damage its status as a freewheeling finance hub. The bank began its review of where to put its headquarters in April last year, two weeks before a British general election, amid growing calls for a crackdown on a banking sector seen by many voters as feckless. But after almost a year, during which it reportedly sought advice from former US Secretary of State Henry Kissinger among others, the board unanimously decided to stay put. London is one of the worlds leading international financial centres and home to a large pool of highly skilled, international talent, the bank said in a statement.