Bank threatens to move London HQ

| 06/09/2010

(BBC): HSBC may move from London if the UK government decides to break up big banks, a senior executive has said. Stuart Gulliver, head of the Canary Wharf-based bank’s investment banking division, made the warning at a banking conference. He said he was "genuinely concerned" that the UK’s banking commission would recommend splitting up banks. "[That] has significant implications clearly for where we may choose to headquarter our institution. I want to be crystal clear. Our preference is to be headquartered in the UK," added Gulliver, whose bank did not receive any direct government support during the financial crisis.

 

 

Print Friendly, PDF & Email

Category: Business

About the Author ()

Comments are closed.