24th Nov 2015 06:36
LONDON (Alliance News) - A number of major asset managers have said they would support HSBC Holdings PLC should the bank decide to move its headquarters to Hong Kong amid increasingly onerous regulation on the sector in the UK, the Financial Times reported.
Aberdeen Asset Management PLC, the FTSE 100-listed fund manager and a top ten HSBC shareholder, said it would continue to back the bank should it decide to move to Hong Kong.
Richard Buxton, the chief executive of Old Mutual Global Investors, the asset management arm of Anglo-South African financial services group Old Mutual PLC, also said his group would likely back the move, on the understanding HSBC would have done a "thorough review" of the implications of doing so.
https://next.ft.com/content/64319ace-9200-11e5-94e6-c5413829caa5
By Sam Unsted; [email protected]; @SamUAtAlliance
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