HSBC will remain headquartered in the UK following a unanimous decision by its board of directors.
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div>HSBC will remain headquartered in the UK following a unanimous decision by its board of directors.
The board added that it will no longer review the location of the group’s headquarters every three years unless there is a “material change in circumstances”.
Douglas Flint, HSBC Group Chairman, said: “As we evaluated jurisdictions against the specified criteria, it became clear that the combination of our strategic focus on Asia and maintaining our hub in one of the world’s leading international financial centres, London, was not only compatible, but offered the best outcome for our customers and shareholders.
“We are very grateful for the hard work and insight of so many who helped in this complex exercise.”
In the later stages of the review, the bank narrowed down the potential location of its headquarters to its home markets of the UK and Hong Kong.
The bank said Asia remains at the heart of the group’s strategy while London was home to a large pool of skilled, international talent.
Stuart Gulliver, HSBC Group Chief Executive, said: “Having our headquarters in the UK and our significant business in Asia Pacific delivers the best of both worlds to our stakeholders."
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