A transition with clarity would start investment again,” said Gulliver. HSBC could switch 1,000 banking jobs to France after a Brexit vote Read moreSpeaking as the bank reported a 41% rise in profits in the first nine months of the year, Gulliver said HSBC would wait as long as possible before moving jobs to its Paris operations. Last week Swiss bank UBS also appeared to reduce the number of UK-based staff that could be impacted by Brexit. Two-thirds of the profits are generated in Asia although HSBC is headquarted in London. The bank is also setting up a UK headquarters in Birmingham to comply with rules requiring it to ringfence its high street operations from its investment banking arm.

Source: The Guardian October 30, 2017 12:11 UTC