British multinational banking and financial services company HSBC has said it will most likely switch hundreds of jobs to Paris from London. While Gulliver had in the past already hinted at such a move of investment banking jobs, his fresh comments were 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,” he argued. “And so for us, it’s France.”Adapting to a changing environmentHSBC said it would move staff generating around 20 percent of its trading revenue following Britain’s exit from the EU. “We’re not moving this year and maybe not even next year,” Gulliver said, adding that the bank would likely look to switch employees in around two years from now when Britain had fully left the European Union.

Source: Daily News Egypt January 18, 2017 11:44 UTC