Major investors in HSBC are arguing over whether the bank should stay in the UK or should move its headquarters abroad, as the giant lender faces an uncertain fog of regulation.
The Daily Telegraph reports that David Cumming, head of equities at shareholder Standard Life, said that HSBC could be “very, very close to losing patience”, as regulators continue to increase the burden on banks.
But major bond investor Hermes Investment Management disagrees, arguing that much of the regulation facing the bank is global so leaving the UK would bring few benefits.
Other options are also on the table - last month it emerged that HSBC was also considering a move to the US.
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