HSBC keeps headquarters in London, rejects move to Hong Kong: Reuters

15.02.2016 [20:46]
Print
A⁺ A^-

Baku, February 15, AZERTAC

Banking group HSBC Holdings (HSBA.L) has decided to keep its headquarters in Britain, rejecting the option of shifting its center of gravity back to main profit-generating hub Hong Kong after a 10-month review, according to Reuters.

The decision by HSBC's board, which Europe's biggest bank said was unanimous, gives a boost to London's status as a global financial center, under threat since the financial crisis of 2007-09 from tougher regulation and rising costs.

Yet Chief Executive Stuart Gulliver immediately warned that the bank could not stick with the status quo were Britain to vote in favor of leaving the European Union in a promised referendum, saying it would consider moving around 1,000 employees from London to Paris.

HSBC keeps headquarters in London, rejects move to Hong Kong: Reuters

FEEDBACK

Other news in this section