World Economy

HSBC to Keep HQ in London

HSBC to Keep HQ in LondonHSBC to Keep HQ in London

HSBC Holdings plc said it will keep its headquarters in London, ending a 10-month process in which one of the world’s largest financial companies considered moving to Hong Kong to get closer to its center of gravity in fast-growing Asian economies. “I think we’ve ended up with the best of both worlds,” HSBC chairman Douglas Flint told the BBC on Monday. “A pivot to Asia, led from London.” HSBC’s decision was a relief to the government, which feared losing a pillar of Britain’s financial world. The thought of losing one of London’s financial icons had sent the