HSBC said considering shock US move

HSBC Canary Wharf

HSBC, which has threatened to move its headquarters out of the UK amid concerns over excessive tax, is eyeing the US as a serious alternative to its traditional home of Hong Kong, according to reports.

The Daily Telegraph reports that the bank is concerned that moving to the Far East could see it end up in the hands of the Chinese, and so is looking at the US as an alternative, the Financial Times reported.

North America's regulatory system appeals to HSBC, the FT claimed, and the country would easily be able to handle a financial firm of its size - HSBC handles $2.6 trillion worth of assets.

To access the complete Daily Telegraph article hit the link below:

HSBC 'could move headquarters to US'

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