Mayor says Barclays HQ would be welcome in NYC

| 31/03/2011

(Reuters): New York would welcome Barclays if the bank decided to move its headquarters from Britain, the city’s mayor said, in comments that suggested the Big Apple might be courting the bank. Barclays is considering moving its headquarters from London to dodge British capital rules, which the bank sees as onerous, people familiar with the matter said. The loss of the more than 300-year-old bank would be a blow to London’s prestige as a financial center. Other banks are also considering leaving the City. New York City Mayor Michael Bloomberg said the city is not offering any special incentives for Barclays to relocate, but would be delighted to become its new home.

"It would be a great move for them to move here," Bloomberg said at a press briefing. "I hope they move here; it’d be great for us.

At a conference in London, Barclays Chief Executive Robert Diamond said the bank is looking at options. "It’s our obligation on behalf of shareholders to look at the alternatives," he said.
But Barclays hopes not to move. "This is home and where we want to stay," he added.

Go to article
 

Print Friendly, PDF & Email

Category: Business

Comments are closed.