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HSBC’s Geoghegan warns of risk from uncertainty of UK regulation

first_img Share Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoNoteabley25 Funny Notes Written By StrangersNoteableyUndoMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoBrake For ItThe Most Worthless Cars Ever MadeBrake For ItUndoBetterBe20 Stunning Female AthletesBetterBeUndomoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comUndoMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesUndo Video Carousel – cityam_native_carousel – 426 00:00/00:50 LIVERead More whatsapp whatsapp Show Comments ▼ HSBC’s chief executive said while Europe’s biggest bank was happy to keep its base in London, uncertainty about regulation and the business climate were risks to the city as a leading financial centre.“Uncertainty is currently the biggest risk to the City’s competitiveness,” Michael Geoghegan, who will step down from the role at the end of the year, said yesterday.Britain should adopt a “clear and consistent policy” on regulation and the business environment, he said in a speech, adding the country needed to support international banking and trade to avoid rival cities catching up with London as a financial hub.Asked whether HSBC would move its headquarters to Hong Kong, Geoghegan said: “The board is more than happy to have its head office in London … the best for us at the current time is to have our headquarters in London but to have a strong operation in Hong Kong and a strengthening operation in Shanghai”.Geoghegan moved to Hong Kong earlier this year, fuelling speculation HSBC could move its base back to Asia in coming years. His replacement, Stuart Gulliver, will also be based in Hong Kong. More From Our Partners Astounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comSidney Crosby, Alex Ovechkin are graying and frayingnypost.com HSBC’s Geoghegan warns of risk from uncertainty of UK regulation Monday 4 October 2010 9:01 pm KCS-content Tags: NULLlast_img read more

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