HSBC Plans to Move HQs to Hong Kong

Stuart Gulliver yesterday laid out a list of downsides to keeping HSBC’s headquarters in Britain, in contrast with the potential advantages of moving to its historic home of Hong Kong. Britain had “rejected the concept of universal banking”, Mr Gulliver said, and its forthcoming rules to ringfence low-risk retail and commercial banking operations could be “very, very difficult” for HSBC. Indeed, if the final rules mean that HSBC’s group management has no meaningful control over the British bu...
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