HSBC headquarters to relocate from London to Birmingham

[Fittster]

"The headquarters of the personal and business arm of HSBC bank will relocate from London to Birmingham, it has been announced.
The bank said about 1,000 jobs will be transferred from the UK capital as part of the move, starting in mid-2017."

http://www.bbc.co.uk/news/uk-england-32037169

My initial reaction was good news for Brum but it seems a bit unfair on the existing employees having to relocate.

[Fittster]

If the personal / business staff are off to Brum when do the IB staff pack their bags for Hong Kong?

[Fittster]

https://uk.finance.yahoo.com/news/hsbc-faces-hit-u...

So which politician will twist HSBC's arm enough to head back to Hong Kong.

[Fittster]

Du1point8 said:

Fittster said:

https://uk.finance.yahoo.com/news/hsbc-faces-hit-u...

So which politician will twist HSBC's arm enough to head back to Hong Kong.

Its ok... the lefties want this and think that the banks won't leave the uk, or if they do they were better off without them.

This is the levy introduced by George Osborne, which he is planning to increase.

"Mr Osborne increased the bank levy for the eighth time in four years in the Budget . The increase is expected to raise an extra £4.4bn over the next five years. A restriction on tax deductible payments linked to misconduct fines is forecast to raise a further £1bn."


Looks like both parties are happy to go after the banks.

[Fittster]

Looks like George Osborne could drive HSBC out of London.

"Douglas Flint, the chairman of the UK largest lender, has said that HSBC could soon consider a move away from its London base

Britain's biggest bank could leave London amid concerns from investors that regulators are pushing the sector too hard, the lender’s chairman has warned.

Responding to an investor in Hong Kong, Douglas Flint, chairman of HSBC, said that: “We are beginning to see the final shape of regulation, the final shape of structural reform and as soon as that mist lifts sufficiently, we will once again start to look at where the best place for HSBC is.”

https://uk.finance.yahoo.com/news/hsbc-chairman-wa...