HSBC boss promises 'update' on HQ decision next month

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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