The banking giant HSBC may move from London if the British government decided to split the large banks to smaller, said a senior official of the company, quoted by the BBC. Stewart Gulliver, head of investment banking unit based in Canary Wharf Bank, warned during a banking conference. According to him he was “genuinely concerned” that the British banking committee could recommend the separation of banks. “Obviously this is relevant to the choice of location for headquarters of our institution.”
“I want to be completely clear. Our preference is to plant in the UK, “added Gulliver. He also notes that no other country does not consider the division of banks in response to the financial crisis of 2008. Gulliver made his comments in response to a question from the audience during a financial conference in London.
The British coalition government establish an independent banking committee in June, among its responsibilities is considering possible reforms of the banking system. Liberal Democrat campaign took place during the elections in favor of the separation of banks, separating their traditional banking activities more risky investment banking. The Commission may analyze the issue prompting banks to simplify their international structures to be any possible future bankruptcies easier.
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