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HSBC in talks about possible move to Paris
Business digest: Latest alleged threat from a bank to move HQ from London comes at a sensitive time
French officials have apparently been talking to HSBC in an attempt to persuade the bank to move its headquarters to Paris as the bank assesses the location of its headquarters as part of a triennial review.
HSBC already runs a large operation in the French capital, and is one of the country's largest lenders.
The bank's chairman, Douglas Flint, has said that London's financial sector is worried about possible new regulations to be brought in this year. Last week Barclays was rumoured to be considering relocating to New York.
Flint's comments come less than a month after HSBC denied reports that Hong Kong was in the frame to host the bank's headquarters.
Meanwhile Chancellor George Osborne's Independent Commission on Banking is preparing to release its interim report on proposed banking regulations.
The British government has been under pressure to rein in the banks following the financial crisis, whilst French politicians have largely avoided such demands.
Read a full report at the Daily Telegraph. ·
