When a bank the size of HSBC, which has a $2.6 trillion (£1.7 trillion) balance sheet, looks at moving its headquarters, it creates waves.
The bank said on Monday that its review into where its headquarters should be based is taking longer than it thought, and probably won’t make a decision this year.
Here’s what HSBC said (emphasis ours):
Whilst there is a considerable amount of work still to do, a significant amount of work has been carried out, supported by a number of external advisers. In addition, as the review has progressed, further information has been requested by the Board. Whilst the target for completion of the review was initially set as by the end of 2015, this is a self-imposed deadline that can be moved should the Board require further work to be performed.
