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HSBC considering moving HQ out of London

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HSBCHSBC has said it is considering moving its headquarters out of London.

The bank said the review followed “regulatory and structural reforms” since the financial crisis reports BBC.

HSBC’s board has asked its management to “look at where the best place is for HSBC to be headquartered in this new environment,” the bank said.

“The question is a complex one and it is too soon to say how long this will take or what the conclusion will be; but the work is under way.”

Shares in the company jumped 3% higher on the news.