HSBC has given the clearest warning yet that British banks would move their headquarters abroad if the UK government-appointed Commission on Banking were to decide that big groups should be broken up, reports the FT. Stuart Gulliver, the group’s investment banking head and the favourite to succeed Michael Geoghegan as chief executive, said on Thursday he was “genuinely concerned” that the commission would recommend that universal banks, such as HSBC, should split their high street banking from their riskier investment banking activities.

This entry was posted by Cardiff Garcia on Thursday, September 2nd, 2010 at 22:18 and is featured in The Closer (2 Sep 2010) . Tagged with commission on banking, hsbc. Edit this entry.