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11 May 2015

Comments

Derek Clemons

Welcome back, Mr. Eldon. Please accept my condolences on the passing of your mother.

The UK's onerous tax and regulatory environment give HSBC good reason to consider relocating their headquarters. Those factors are only going to get worse.

Hong Kong is not a suitable headquarters location for a non-Chinese global bank because the political risk is too high.

If one is looking at a 30-year time horizon, Singapore may be the answer.

David Eldon

Thank you for your condolences.
I want to be cautious in my responses in case I am "tagged" with an inside knowledge label - which would be manifestly unfair. That said, in response to your welcome views there are probably few choices that make sense if the Bank decided a move was in its best interests. Singapore would have to be one, but what would China's reaction be to such a decision given that much future business might be expected from that country. I think it highlights the difficulty of making a decision like this - but if the Bank thinks Asia is the natural home then I wonder if Australia might be interested. They have a strong regulator.

James L

Good to see the post Mr Eldon. Welcome back!

Good point re Australia. Mr Abbott upon becoming Prime Minister said Australia is open for business. Good ties with China and strong, profitable banks as well.

Australia is dominated by 4 'Big' banks. HSBC does have a presence in Australia and I am sure having them onshore will be beneficial for all.

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