RETAIL BANKING | Staff Reporter, Singapore

HSBC to invest further in the Pearl River Delta

But it will remain headquartered in the UK.

HSBC’s board of directors recently reviewed the best location for their headquarters, and has unanimously decided to remain headquartered in the United Kingdom.

London is one of the world’s leading international financial centres and home to a large pool of highly skilled, international talent, but Asia also remains at the heart of the Group’s strategy.

HSBC’s ‘Pivot to Asia’ was announced as a core part of the group’s strategy in June 2015. “Led from its heartland in Hong Kong, itself a top three global financial centre and where The Hongkong and Shanghai Banking Corporation Limited is headquartered, HSBC is putting particular emphasis on investing further in the Pearl River Delta and ASEAN region. This reflects increasing shifts in global trade and capital flows to and from Asia, in respect of which Hong Kong will play a pivotal role,” the group said in a release.

Commenting on this decision HSBC Group Chairman, Douglas Flint, said: “As we evaluated jurisdictions against the specified criteria, it became clear that the combination of our strategic focus on Asia and maintaining our hub in one of the world’s leading international financial centres, London, was not only compatible, but offered the best outcome for our customers and shareholders. We are very grateful for the hard work and insight of so many who helped in this complex exercise.”

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