Hsbc Is On The Cusp Of Abandoning Britain

HSBC has warned the markets for the last six months that it is debating whether it will relocate its London headquarters amid constantly changing regulations in the City. Now, it looks very likely it could go ahead after some of its most prominent shareholders publicly declared that they would back a move because banks are getting fed up of regulators "changing the goal posts." "Given the situation, where there is no clear end point in terms of ever increasing capital requirements, and the fact that they are being put at a competitive [dis]advantage, and the fact that we will see better growth, earnings and dividend prospects unless the regulator changes tack, then logically we would be supportive of a move if they chose to do that," said David Cumming, head of equities at Standard Life, which owns a 1% stake in HSBC, in BBC Radio 4's Today programme.