hsbc will likely switch jobs to france
Last Updated : GMT 09:40:38
Themuslimchronicle, themuslimchronicle
Themuslimchronicle, themuslimchronicle
Last Updated : GMT 09:40:38
Themuslimchronicle, themuslimchronicle

Chief executive Stuart Gulliver

HSBC will likely switch jobs to France

Themuslimchronicle, themuslimchronicle

Themuslimchronicle, themuslimchronicleHSBC will likely switch jobs to France

HSBC bank
London - Arab Today

HSBC bank would likely switch 1,000 jobs to Paris from London, with Britain planning to leave the EU single market under Brexit, chief executive Stuart Gulliver told Bloomberg Television.

Speaking from the World Economic Forum in the Swiss ski resort Davos, Gulliver said in an interview that "about 1,000 jobs which are carrying out activities which are covered by European legislation... would probably need, in our case, to go to France". 

While Gulliver had in the past already hinted at such a switch of investment banking jobs, his comments appeared more precise as he suggested France would take precedence over other EU nations.

"We bought Credit Commercial de France in 2002, so we have a full service universal bank in France. And so for us, it's France."

Activities covered by European financial regulation that would need to move equate to about 20 percent of revenue earned by HSBC's investment bank division in London, Gulliver added.

He was speaking Tuesday, shortly after British Prime Minister Theresa May said Britain would pull out of the European single market to control EU immigration, as she unveiled plans for a clean break from Brussels for the first time.

At the same time however, May stressed the need for the greatest possible access to the market with Britain as an outsider.

The UK financial sector has long feared the loss of "passporting" rights -- which allows EU member states to trade across national borders. That provides a crucial gateway for companies to access the rest of the bloc.

Lobby group the British Bankers' Association cautioned in October that international lenders with operations in the UK are ready to transfer some of their activities out of the country from early 2017.

Source: AFP

themuslimchronicle
themuslimchronicle

GMT 08:26 2018 Tuesday ,23 January

Five things to know about Davos

GMT 08:03 2018 Monday ,22 January

Saudi Arabia calls for oil producers

GMT 06:39 2018 Sunday ,21 January

Duterte bans Philippine nationals

GMT 11:50 2018 Saturday ,20 January

UK retail sales slide in December

GMT 06:22 2018 Friday ,19 January

To develop oil fields retaken from Kurds

GMT 12:41 2018 Thursday ,18 January

Sudan holds communist leader

GMT 07:37 2018 Wednesday ,17 January

Sudan police beat protesters at demo

GMT 07:31 2018 Tuesday ,16 January

UK construction firm Carillion collapses
Themuslimchronicle, themuslimchronicle
Themuslimchronicle, themuslimchronicle

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

hsbc will likely switch jobs to france hsbc will likely switch jobs to france

 



Themuslimchronicle, themuslimchronicle
Themuslimchronicle, themuslimchronicle
Themuslimchronicle, themuslimchronicle

GMT 06:40 2017 Saturday ,16 December

Walker needs brains not just brawn

GMT 08:15 2017 Thursday ,07 September

US oil giant ExxonMobil plans Cyprus gas exploration

GMT 18:11 2011 Monday ,18 April

Zimbabwe and Zambia in tug of war over Vic Falls

GMT 16:05 2017 Tuesday ,31 October

Qadih calls for involving private sector

GMT 09:20 2017 Wednesday ,15 November

Qualcomm spurns $130 bn Broadcom bid for big tech tie-up

GMT 13:43 2017 Tuesday ,24 October

Stabbed Russian journalist 'in recovery'

GMT 10:26 2017 Friday ,14 April

Sock topples Haas to reach ATP Houston quarters

GMT 14:00 2017 Saturday ,25 November

Sudan condemns terrorist attack in Egypt

GMT 09:40 2017 Monday ,04 December

Stade down Racing, Clermont edge plucky Agen

GMT 08:08 2017 Thursday ,05 October

Injury jinx strikes again as Iordache exits

GMT 11:20 2017 Tuesday ,05 December

Prodigal son: Saleh Saudi overture tips Yemen balance

GMT 09:35 2013 Saturday ,31 August

Afghan suicide attack kills 6, hurts 20 in south

GMT 23:36 2016 Sunday ,11 December

Suicide attack in Istanbul claims 29 lives

GMT 18:29 2013 Sunday ,10 November

Samsung\'s Galaxy Note 3 top 5m

GMT 14:52 2013 Sunday ,24 November

Computer game opponents begin to think, feel alike
Themuslimchronicle, themuslimchronicle
Themuslimchronicle, themuslimchronicle
 
 Themuslimchronicle Facebook,themuslimchronicle facebook  Themuslimchronicle Twitter,themuslimchronicle twitter Themuslimchronicle Rss,themuslimchronicle rss  Themuslimchronicle Youtube,themuslimchronicle youtube  Themuslimchronicle Youtube,themuslimchronicle youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2023 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2023 ©

muslimchronicle muslimchronicle muslimchronicle muslimchronicle
themuslimchronicle themuslimchronicle themuslimchronicle
themuslimchronicle
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
themuslimchronicle, themuslimchronicle, themuslimchronicle