05:55:27 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



HSBC Bank Canada
Symbol HSB
Shares Issued 7,000,000
Close 2015-04-24 C$ 25.36
Market Cap C$ 177,520,000
Recent Sedar Documents

Globe/wire say HSBC mulls moving back to Hong Kong

2015-04-27 06:11 ET - In the News

The Globe and Mail reports in its Saturday, April 25, edition that HSBC Holdings, Europe's biggest bank, has ordered a review into whether it should move its headquarters out of Britain and potentially back to its former home in Hong Kong, threatening London's reputation as a global hub for finance and investment. A Reuters dispatch to The Globe reports that the announcement from HSBC, founded in Asia but a key part of the British establishment, prompted a warm response from Hong Kong, where it is revered as "The Bank," and silence from the British government. Chairman Douglas Flint singled out the threat of Britain withdrawing from the European Union in a speech to investors on Friday. Mr. Flint said: "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. ... The question is a complex one and it is too soon to say how long this will take or what the conclusion will be, but the work is under way." Reuters says HSBC executives are also looking at quitting London for Asia because a big jump in Britain's bank levy made staying financially painful. Investors want the bank to do a thorough analysis.

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