LONDON (Alliance News) - HSBC Holdings PLC confirmed it has begun work to decide if it should move its headquarters from the UK as part of a broader review, Chairman Douglas Flint will tell shareholders at the banking group's annual meeting on Friday.
"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. 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 underway," Flint is set to tell shareholders at the meeting.
HSBC shares were up 2.4% at 626.90 pence on Friday morning.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
Copyright 2015 Alliance News Limited. All Rights Reserved.
HSBC Holdings (HSBA)