HSBC boss promises 'update' on HQ decision next month

HSBC building at night

HSBC chief executive Stuart Gulliver has said the bank will provide an "update" on its plans to relocate its headquarters abroad - although that may not include a decision.

Speaking at the World Economic Forum (WEF) in Davos, Gulliver said shareholders will be given more of an insight into its plans - although he added it may not have reached a final decision by then.

Last April chairman Douglas Flint said the bank was considering a move abroad, in part thanks to onerous legislation, particularly the government's bank levy.

Since then, investors have been anxiously awaiting a decision from the bank.

Although it was assumed the bank would head to Asia, in October it was suggested it was also considering a move to the US.

Full story: HSBC boss promises "update" on HQ decision next month: City A.M.

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