HSBC future

News

Date: 8th Feb 2016

The Director of Bucks Business School at Buckinghamshire New University has welcomed the news that HSBC is expected to announce it will keep its headquarters in the UK, following a long-running review into whether it should leave the City for a new home overseas. Richard Bingley said London's global city status would be called into question if HSBC decided to relocate its global headquarters to another city.

Richard Bingley said London's global city status would be called into question if HSBC decided to relocate its global headquarters to another city but the banking giant is expected to reveal it will remain in London when its full-year financial results are released on 22 February.

Mr Bingley said: "As somebody who has worked in the City for several years, the relocation of HSBC would be, at the very least, a reputational glitch for the City, so this news is welcome.

"Were HSBC to move it might become increasingly difficult for London to attract students to Britain, or retain domestic talent. The departure of a major employer like HSBC would send a clear signal that London is no longer a favoured hub for them.

"The diverse financial services industry remains the principal economic powerhouse behind much of the UK's economy and wider export strategy. Therefore, to see such an iconic member of the City relocate would actually be quite demoralising for the business community and also the UK's ability to attract and retain students. The news that HSBC looks to be staying in London is extremely positive.

"Our Business Management and MBA students are either setting up their own firms or aspiring for management roles in the City, so to see HSBC would have sent a message that other global financial centres are also the future locations for University study."

Bucks Business School is based across four campuses in London and the Thames Valley: High Wycombe, Uxbridge, Aylesbury and Great Missenden. The School has academic partnerships with institutions across Europe, Africa as well as South and Far East Asia.

Picture caption: Richard Bingley, Director of Bucks Business School at Buckinghamshire New University.

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  • Business & Management