HSBC Not Leaving UK, Bankers Say

U.K. bank HSBC Holdings Plc said that the company is not considering leaving London as its headquarters, responding to a report last weekend in the Sunday Telegraph naming certain large shareholders that the bank may be looking to move its headquarters to Hong Kong due to fewer regulatory restrictions.

In a statement, the bank said that any move at this time is purely “speculative and presumptuous.” Last month, the U.K. government reached an agreement with the U.K.'s three biggest banks, Royal Bank of Scotland, Barclays Plc, and HSBC, on reasonable banker salary and bonus figures. Banks also are now subject to larger capital reserves to guard against future catastrophies.