LONDON-- HSBC Holdings PLC said Friday it was reviewing whether
to move its headquarters outside the U.K.
The lender, which has large Asian operations but is based in
London, said that it didn't know when a final decision would be
made.
HSBC's management has long wrestled with whether the bank should
be domiciled in the U.K. and in the past it conducted reviews of
whether to relocate every three years. This stopped during the
financial crisis as the bank waited for the regulatory rules to
settle down.
"As part of the broader strategic review taking place, the board
has therefore now asked management to commence work to look at
where the best place is for HSBC to be headquartered in this new
environment," Chairman Douglas Flint said in a copy of a speech he
is set to deliver at the bank's annual shareholder meeting later
Friday.
Write to Max Colchester at max.colchester@wsj.com
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