HSBC Ready to Move 1,000 Bankers to Paris on `Brexit', CEO Says
- Gulliver says it's in Britain's interest to stay within EU
- Bank currently employs 5,000 investment bankers in London
The Eiffel Tower stands above the city skyline as the sun sets over skyscrapers in La Defense business district in Paris,.
Photographer: Christophe Morin/BloombergThis article is for subscribers only.
HSBC Holdings Plc Chief Executive Officer Stuart Gulliver said the lender would probably move about 1,000 investment bankers to Paris if Britain withdraws from the European Union, in one of the strongest statements from an executive yet about the repercussions of an exit.
The relocated positions would come from within HSBC’s global banking and markets unit, which employs about 5,000 in London, Gulliver said in a telephone interview on Monday. While an outcome in favor of Brexit would have a “significant impact” on the investment-banking division, it wouldn’t affect the consumer business, he said.