Europe’s biggest bank by assets, HSBC Holdings PLC is considering moving its headquarters to the U.S. in response to recent reforms and regulations in the U.K. banking sector, the Financial Times reported. The U.K.-based bank already floated the idea of shifting its base away from London back in April, with Hong Kong seen as the obvious choice. HSBC was based there for more than 100 years and still makes most of its money in the Asian markets. However, according to the FT, bank executives are growing increasingly concerned about the political risk of ending up under Chinese control, instead turning their attention stateside. Advisers to the bank say the U.S. is one of the only countries that can accommodate a financial institution the size of HSBC, according to the report. Additionally, U.S. regulation is considered more friendly toward large international banks. A representative from HSBC declined to comment on the report. Shares were 1.2% higher in London.
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