HSBC decides to stay in Britain

HSBC has decided to keep its headquarters in Britain, the bank said on Sunday, following a review into a potential move that could have shifted the group's base to Hong Kong. 

PHOTO: BLOOMBERG

FEB 15, 20166:52 AM

[LONDON] HSBC has decided to keep its headquarters in Britain, the bank said on Sunday, following a review into a potential move that could have shifted the group's base to Hong Kong.

The decision to stay gives a boost to London's status as a global financial centre, which has faced challenges from tougher regulation since the financial crisis as well as rising costs. "The decision of the Board was unanimous," HSBC said in a statement.

REUTERS