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HSBC could shift markets business in event of Brexit

Both the bank's CEO and investment banking chief say UK leaving the EU could have a 'significant' negative impact on markets businesses

HSBC's HQ in Canary Wharf
HSBC's HQ in Canary Wharf Photo: iStockPhoto

HSBC could move its market business out of the UK if the country votes to leave the European Union, chief executive Stuart Gulliver said on February 15.

"If the UK was to leave the EU, depending on the terms that were negotiated, that could have a significant negative impact on those markets businesses, which could result in a chunk of jobs moving out of the UK," Gulliver said in an interview. The bank employs around 5,000 people in the UK-based global banking and markets business.

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