19th Oct 2015 05:41
LONDON (Alliance News) - HSBC Holdings PLC is understood to be leaning towards keeping its headquarters in the UK after it scored a number of wins in its battle to water down regulatory curbs on the British banking industry, The Sunday Times reported.
A series of changes in government policy, including to the bank levy, mean HSBC is now more likely to retain its UK base at the end of the year, according to shareholders and senior sources inside the bank, the paper said.
A "high-level source" at the bank told the paper that Stuart Gulliver, HSBC's chief executive, has secured "pretty much everything he wanted out of the government."
http://www.thesundaytimes.co.uk/sto/business/Finance/article1620661.ece
On Friday, Bloomberg News had reported that the bank probably won't decide where to locate its headquarters until 2016, later than originally planned, as the board seeks to reach an agreement.
The completion of a review "could slip into next year", Gulliver told a conference in London on Friday, Bloomberg reported. "It depends on how long it takes for the board to get comfortable with the decision," Gulliver said.
By Sam Unsted; [email protected]; @SamUAtAlliance
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