Defend Truth

HSBC’s CEO will move to Hong Kong

HSBC’s CEO will move to Hong Kong

As the world cautiously emerges from the biggest economic crisis in decades, one of Europe’s truly global operations, HSBC, has decided on a dramatic move: relocating its CEO, Michael Geoghegan from London to Hong Kong. The $200-billion leviathan’s chairman, Stephen Green downplayed the significance of the move, rejecting insinuations the company might be moving back where it started in 1865 as the Hong Kong and Shanghai Banking Corporation. The company moved to London in 1992 for tax reasons. Green did allow for Hong Kong to become equally strategically important as London’s HQ. However, don’t be surprised if HSBC swaps the European saturated air for China’s promised land sometime soon.

Gallery

Please peer review 3 community comments before your comment can be posted

We would like our readers to start paying for Daily Maverick...

…but we are not going to force you to. Over 10 million users come to us each month for the news. We have not put it behind a paywall because the truth should not be a luxury.

Instead we ask our readers who can afford to contribute, even a small amount each month, to do so.

If you appreciate it and want to see us keep going then please consider contributing whatever you can.

Support Daily Maverick→
Payment options

Become a Maverick Insider

This could have been a paywall

On another site this would have been a paywall. Maverick Insider keeps our content free for all.

Become an Insider