HSBC management has all but ruled out a relocation of the bank’s headquarters to Hong Kong, stressing that it is committed to keeping its domicile in the UK despite the threat of new European bonus restrictions .
The bank has “postponed indefinitely” a previous practice of reviewing its domicile every three years, damping long-running speculation over its future in the UK.
This was in part due to a hardening view that London is the right place for the business, but also because of long-term uncertainty around many of the global rules governing the sector and how they will be adopted in different jurisdictions.
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