FT - Standard Chartered urged to consider quitting London

Departure

'It is looking more like a possible option'.

The Financial Times reports that two big investors in Standard Chartered want the group to consider switching its domicile away from London because of the chancellor’s decision to increase the UK bank levy by a third.

One top 10 investor in Standard Chartered said: 'The increase in the bank levy may make it sensible to move. We want the company to look at this. Moving headquarters is not easy and it may not be worth it, but this should be considered'.

Bill Winters was this month unveiled as the incoming chief executive of StanChart, replacing Peter Sands in June, and investors are pressing the former JPMorgan executive to make it a priority to reconsider the UK domicile.

Hit the link below to access the complete Financial Times article:

StanChart investors press bank to consider leaving London

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