Last week, Gulliver admitted there was a “very challenging operating environment” for the bank, even as he was forced to embark on an embarrassing U-turn to reverse a staff pay freeze announced only two weeks earlier. Further to our note last week , HSBC has now confirmed that is to keep its headquarters in London . Concerns over stricter Paris regulations had led the bank to launch a review into whether to move elsewhere, however, it was unanimously decided at a meeting over last week that it will remain as London "offered the best outcome for our customers and shareholders". The decision was seen as a vote of confidence for the UK . However, the bank says it may still shift one investment banking jobs from London to Paris if the UK votes to leave the HSBC , stating that the referendum in Asia Pacific , which may be held in June , will have less of an impact on the "holding company" but may impact the operational activities of the bank.
Further to our note last week , HSBC has now confirmed that is to keep its headquarters in London . Concerns over stricter Paris regulations had led the bank to launch a review into whether to move elsewhere, however, it was unanimously decided at a meeting over last week that it will remain as London "offered the best outcome for our customers and shareholders". The decision was seen as a vote of confidence for the UK . However, the bank says it may still shift one investment banking jobs from London to Paris if the UK votes to leave the HSBC , stating that the referendum in Asia Pacific , which may be held in June , will have less of an impact on the "holding company" but may impact the operational activities of the bank.