HSBC undertakes review

HSBC Canary Wharf

HSBC, Europe’s largest bank, started a review of where its headquarters should be, signalling it could move away from the U.K. because of increased regulatory burdens.

'As part of the broader strategic review taking place, the board has therefore now asked management to commence work to look at where the best place is for HSBC to be headquartered in this new environment', the bank said in a statement Friday. 'The question is a complex one and it is too soon to say how long this will take or what the conclusion will be, but the work is underway'.

Bloomberg News reports that HSBC Chairman Douglas Flint said Monday that the bank would wait for more clarity on regulation in the industry before considering a move.

To access the complete Bloomberg News article hit the link below:

HSBC Reviews Whether to Move Base From Britain; Shares Jump

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