HSBC Keeps London Base in Victory Over Asia; Shares Gain
- Board's decision was unanimous after 10 months of debate
- Bank says will cease regular reviews of headquarters' location
HSBC Headquarters to Remain in the U.K.
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HSBC Holdings Plc recommitted its future to London, ending 10 months of deliberations over whether to move its headquarters, after securing concessions from the U.K. government on regulation and taxes. The shares rose.
Europe’s largest bank said it will continue its 23-year stay in the U.K. capital after its board, led by Chief Executive Officer Stuart Gulliver and Chairman Douglas Flint, convened there on Sunday. The decision was unanimous, according to a statement from the bank.