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.



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